Szimba's Blog

My way

This is the continuation of my journal “ My way” from another forum. If someone is interested in the antecedents, please do a little search with Google.
In some short sentences: the goal of the journal is to document my work toward learning how to trade well.
At first I would like to learn to trade retracements.
Currently I’m studying individual stock charts back in early spring to find good examples for retracements. If I will have enough good charts, then I am going to search common characteristics among them. Then I will set up a hypothesis, forward test it and paper trade it and hopefully trade it with real money.

So probably I should name this journal: ” The most boring journal you’ve ever read” but I never promised to anybody (myself included) that it would be entertaining.

I'm not especially comfortable with discussing the e-book available at the Yahoo site on the message boards. Naturally I want people to know that it's available, but I don't to shove it down their throats. Here, however, discussing it is not only unavoidable but necessary since I assume you're applying the principles from it to your work.

It's going to be difficult to comment much until these journals have attachment capabilities and I just don't have the time to look up all the charts of all the stocks you mention. And even if I did, there's no guarantee I'd be looking at the same thing you are. However, since sulong is also interested in retracements, you may want to go through the thread he started on the subject in General Trading Chat. Unfortunately, hardly anyone knew what he was talking about, so the thread is unnecessarily scattered, but since both you and he have the e-book as a reference point and, I hope, are looking at much the same thing, perhaps a new thread might be in order. Send him a PM if you're interested and let me know what develops.

My way

03.05.

ASKJ : No sideways move, no base.

GPS : No base.

NSM : BO : 03.25. PB: had not got continuation.

FLSH : No good base.

VGZ : Wide range bars through the whole base, no good.

EASI : No finished base.

CTC : No base.

CMC : No good base, BO failed.


03.08.

OSIP : No base.

MGAM : No base.

TRO : Failed BO.

CERG : Not nice BO followed by high volume wide consolidation. Not nice.

GGB : Ugly BO on 04.01. Failed.


03.09.

MHR : No good base.

REM : No good base.


03.10.

PKS : Failed BO.


03.11.

ACI : No good base. BO without volume failed.

CELG : Good BO, good PB. Should have been bought on 03.25 (the first day when longs was permitted by market timing)

NBIX : No good base.

WERN : No good finished base.

GISX : Weak Bo had finally some FT, PB did not have continuation.

SWN : After BO high volume consolidation. I do not like it. (But I should) &#61514))


Summary : One chart (CELG) to keep.

My way

03.12

NSM : No successful retracement after BO.

XMSR : BO ok, PB volume above average. PB successful but on 03.16 I haven’t been permitted to go long.

CNX : No base.

IMDC : After BO consolidation failed.

ASCA : Wide range bars at the end of the base.


03.15.

ERTS : No good base. Good BO. Two day high volume PB quickly failed.

VRX : No base.

LSTR : Too much volume in BO, too far from support, PB failed.

USFC : Double failed BO.

OHI : No good base.


03.16.

WHT : Too much gaps. I’m not interested in trading these kinds of stocks.

GLG : Ditto.

UTHR : No good base. Big volume two day consolidation quickly failed.

ARTC : No base.

SORC : No BO.

EPL : Nothing interesting yet. Will be on the list in April again.


03.17.

RRI : Failed BO.

ABX : Too much gaps. I’m not interested in trading these kinds of stocks.

FCEL : Good BO. PB ok. Could be played. I keep it.04.16.

MPS : BO ok, too long consolidation, broke down from it.

GGC : Not good base, not good BO, high volume two days pullback and still successful. I’m not interested.

BLX : Low volume BO failed.


03.18.

NOBL : Failed BO.

CBIZ : No base.


03.19.

PDG : Too much gaps. I’m not interested in trading these kinds of stocks.

KFY : Volume is rather high around the BO, three days consolidation, successful. 03.25.

GBBK : No BO.

ILA : Broke down from 5 days consolidation with gap.

UBB : No base.

PRGS : No base.

LEND : BO failed.

MDCO : No base.

PLMD : Failed BO.


03.22.

BVN : : Too much gaps. I’m not interested in trading these kinds of stocks. Foreign.


03.23.

DAR : This is not what I’m looking for.

ACN : Not too good base, BO succeed only at second attempt. Retracement turned out to be a trap.

DJO : No base.


03.24.

NEM : Too much gaps. I’m not interested in trading these kinds of stocks. (I will probably never play gold stocks.) )

STEI : No good BO, no tightening.


Now I reached the point where I left to see shorts.
Now I'm going to take a look at short charts between 03.25 and 03.29. Then the long and short side will be synchronized, so I will look both for longs and shorts each day. (The longs in these days can be found in my old thread)

My way

It's easier to paste it here:

"Long watchlist from 25th of march to 29th:

WSM : No base.

RHAT : BO 03.25, PB 03.30-04.02. Not the best looking chart, but I keep it for further research.

HL : No BO.

IKN : Weak BO, to sharp pullback relative to the ascending.

CBJ : No BO.

AG : No base.

THQI : Long base with failed BO for the first attempt, failed PB.

LAUR : After BO never pulled back to support.

MECA : Pullback after BO quickly died.

NIPNY : No successful BO. (I do not trade gapping foreign stocks.)

CCJ : No quality BO.

CRXL : No clear resistance, no BO."

My way

Short watchlist :


03.25.

AHO : Foreign, too much gaps.


03.26.

LNCR : No BO.

MANH : No base.

CRXA : No BO.


03.29.

0 matches

My way

03.30

Shorts :

0 matches.

Longs :

AMD : No BO.

ROK : No base.

ILA : No continuation from wide consolidation.

NUE : No base.

CHRW : No good base.

USTR : No PB.

CDIC : No BO.

SLXP : No base.

AWGI : No base.

MMSI : No BO.

CPWM : No BO.

TRO : No BO.


03.31

Shorts :

0 matches.

Longs :

NVDA : No PB.

CHK : Failed BO.

X : No BO.

TCP : Failed BO.

RRI : Failed BO.

NTES : No BO.

INGP : Failed BO try.

GMR : Failed pullback, but should be studied!

JBHT : Not the type of PB what I’m looking for, but successful.

ENCY : Failed pullback!

YELL : No BO.

HDWR : No pullback to support.

GTRC : No base.

BCO : 2 days consolidation.

ASF : No BO.

AVO : No BO.

SBIB : No BO.


04.01.

Shorts :

0 matches.

Longs :

MU : Failed to produce a good pullback.

YHOO : Failed PB.

CECO : 2 days consolidation after BO.

DHB : 2 days consolidation after BO.

NIHD : No good base, failed BO.

RSAS : Failed PB.

FAST : No good PB.

IT : No good PB, distribution.

TKTX : No base.

SNRR : No BO.

GBBK : No BO.

PLLL : No base.

OSG : Failed BO.

WPP : Failed to produce a pullback.

USU : No BO.

SFN : Failed BO.

ERJ : No BO.

HELE : No PB.

VNT : No PB.

BBOX : Failed consolidation.

Retracements.

I went through the period 2004.02.23-2004.04.09 and examined a lot of charts. I found the following ones interesting:

CELG on 03.25.

RHAT on 04.05.

FCEL on 04.16.

KFY on 03.25.

JBHT on 04.14.

BCO on 04.02.

CECO on 04.01.

DHB on 04.06.

TMR on 04.16.

IMGN on 04.14.

I will go through them again to find out if there is some common things among them.

Move.

Since I can not attach charts in this journal, I will continue at http://www.trade2win.com/boards/showthread.php?t=13450