Well have been paper trading only here as of late. On friday turned in the paper trades for real trades and walked away with nice $249 profit. Had been on serious losing streak since about february 1oth. Couldn't figuire things out and was beginning to lose my confidence about my ability. Read three books on trading and read probably the most insightful book ever on trading. It was written by alexander elder, "welcome to my trading room." It comes with a work book and is pretty damn hard to pass the first time through. Have read it twice now and feel better equipped.
Some stocks i am wathcing very closely.
DXO- this is an etn that tracks crude oil forward contract. Looking for crude to reach $80 a barrel in next 6 months. This is the best etf to play crude oil. Have lost a ton of money on uso and uco due to an issue called contango. which is the rolling over of futures contracts in the coming months. DXO is ready to pop.
LVS- Las vegas sands, probably the best run casino in vegas and has a large exposure to china and singapore. Looking for levs to break and hold above $3.15 before going long.
GE- has been battered way down. Been stopped out twice on this entry. Will post entry when time is right. This company is way down and is extremely diversified and the bears are losing power according to weekly macd histogram. Looking to go long with a break of $10 and a stop at low of year, which is currently $8.98. For fun GE sells a $100k windturbine every 3 hours. Also ge could possibly sell there finance division which would make investors very happy. The only problem is that there finance division is actually making them money. Also $30 billion in cash doesn't hurt either. Why is this stock below $10? Been stopped out of GE three times for a $1k loss, ouch!!!
GOOG- oh how i love this chart, will look to go long on a break of $350. would also like to see the market turnaround. Could goog see $400?
GS- Looking to short GS for ultra short term play, I love to day trade this stock and will keep doing it as long as i make money with it will short GS when the 13 ema crosses the 22 ema on the daily chart or the macd hostgram ticks more negative on the daily chart.
Market- Feel like we could see one more leg down next week. This would be a buy signal in my book.
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