Breakout Trading using Time and Sales

This is a discussion on Breakout Trading using Time and Sales within the Trading Journals forums, part of the Reception category; Stock is approaching the 28.00 whole number. This is my next target to close out the remainder of my position. ...

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Old Nov 3, 2009, 7:38pm   #65
 
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amit1986 started this thread Stock is approaching the 28.00 whole number. This is my next target to close out the remainder of my position. No point in getting greedy risking your profits disappear.
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Old Nov 3, 2009, 7:43pm   #66
 
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amit1986 started this thread Position closed at 27.32 due to extensive selling pressure on Time and Sales.

I will post a chart of this trade and more details on entry/exit a little later in the evening (Toronto time, which is Eastern Standard Time).

Amit
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Old Nov 4, 2009, 5:04am   #67
 
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HGSI Trade

amit1986 started this thread Here is a picture of the chart of HGSI on 5-minute candles.

There is a slight correction to my previous post whereby I mentioned the stock was making all-time highs. It was not making all-time highs as it broke out of yesterdays high, but rather, a quick glance at the monthly chart indicates that the stock did break out of a very long and extensive consolidation since mid-2003.

The stock did break out initially but Time and Sales was telling me to stay out as there was no momentum. Once momentum picked up and there was a surge in buying pressure, I took the entry, getting filled at $26.25. I closed half my position at $26.70 to lock some profit as some selling pressure arose (as can be seen by spike of volume corresponding to my position half-exit candle). The remainder of the position I closed at $27.32 due to extensive selling pressure on the Time and Sales.

Amit
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Old Nov 5, 2009, 3:01pm   #68
 
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amit1986 started this thread Earnings season still presenting lots of potential trades! Also, today retailers report Same Store Sales data, which adds more stocks to the watch list. Some of the notable ones today include: ARO, ATPG, QCOM, WFMI, and VALE.

GRMN was downgraded by RBC Capital Markets today, which may add further to the selling pressure it experienced yesterday.
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Old Nov 5, 2009, 3:54pm   #69
 
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amit1986 started this thread MDT and QCOM looking like they could present great long trades.
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Old Nov 5, 2009, 4:18pm   #70
 
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amit1986 started this thread MDT looking quite good for a breakout of the high. $38 resistance has now become support. High of day = 38.17. Target entry = 38.20 if Time and Sales confirms momentum.
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Old Nov 9, 2009, 3:40pm   #71
 
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amit1986 started this thread Some fairly interesting stocks to watch today. Earnings season is dying down a little, so there are a relatively little amount of stocks to watch today - approximately 25. Focus is on Gold stocks as gold is continually making new highs (ABX, GOLD).

Some other stocks I am watching include MT, MCD, and ADBE.
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Old Nov 9, 2009, 4:00pm   #72
 
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amit1986 started this thread RSH setting up for a break to the upside
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