$IBM - Super Clean Stock!

$IBM - Traded on Friday June 28th 2013 

I have traded $IBM twice now and both times I've loved how clean this stock is, it just works so perfectly, it follows through so nicely and it does exactly what you planned. Click here to see my previous $IBM trade, again a beautiful trade.

Due to other obligations I did not trade for about 2 weeks, I've done purchasing of long positions like my $AMD I've upped it to 1000 shares now instead of 850. I am banking on this bad boy! It reports earnings in mid July, I don't expect anything great since the company is pretty much rebuilding I think, but say 4-5 years I want to see this stock just BLOW UP. Oh yes another thing, I accidentally purchased 50 shares of $SWY (Safeway) which is a grocery store on the west coast of Canada and USA. Don't ask me how, but I am long Safeway 50 shares at 24.38. That a $1219 investment. (fingers crossed) I hope Safeway gives out dividends.

Back to $IBM
I love trading $IBM, its such a gentle giant. You will see right after the morning bell at 09:30 it dropped like a  rock, $IBM dropped into a support area and what happens when something gets supported? Typically it gets back up or builds some upside momentum, and that is exactly what $IBM did in the first 10 minutes of trading, it dropped, hit support, got back up and then BAM it died. $IBM didn't have good friends I guess thats why its support system didn't help it go back up up up and away. And that is when I saw the opportunity, $IBM was weak, all of its support systems, friends, family and Children's Help Lines left $IBM, it was ready for another move down so that is when I shorted 75 shares at 188.79 and never looked back.

Enjoy the chart below. Oh yes, even thought $IBM didn't have a good support system in the first say 30 minutes of trading it did end up totally reversing and shooting later on during the day! Crazy! Support came a little late, but I don't care I got what I wanted.

Right Click, Open Chart in New Tab

Click on the Links below to read my previous trades
$BBRY - Needed a little more wiggle room
Another 1 - Can't believe it 

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$BBRY - Needed a little more wiggle room! Still a good clean play

I didn't really prepare for the market today but yesterday my thoughts were to long $BBRY (Blackberry) for a good long swing trade, right now I am not to sure about that. But I think it'll blow threw 15 today if the markets help it out. Let see.

So I did trade $BBRY Intraday, its a toughy, it is on my "do not trade list" but I liked the clean setup and went for it but didn't go all in.

Here is the trade: Right Click image to see my entry + exits.

I bought 250 shares 14.71 and kept my stop at 14.63 if it went against me. My first profit taking area I wanted it at 14.90's. But $BBRY had a massive reversal, the market was coming down and I didn't like it so I took profits at 14.83.

Entry: 14.71 250 shares
Exit 1: 14.83 100 shares
Exit 2: 14.69 50 shares
Final Exit: 14.63 100 shares

I didn't lose anything on the play, it wasn't a planned play but again I went for the setup, if I had given $BBRY a little more wiggle room I would have still been in the play and so far the highest its been today was 13.93.

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Another 1...Can't Believe it...chasing losses, trying to get revenge on stocks

After 2 good days, this just had to happen...all profits wiped out with 3 bad trades. I don't know if I ask for these kinds of days with my habits or I attract them but they happen too often and its not healthy for trading or for me.

Sorry could not walk through every trade.

But here they are: Right Click Charts, Open In New Tab

$FCX

$SE

$STJ

$LULU - What happened?

So I've never really liked $LULU as a day trading stock, like $COH it fakes a lot! Ahhh it makes me cringe when stocks fake me out. I don't know whats up with these HIGH END clothing stocks but they are full of fakes...ah whatever.(#1 most hated day trading stock on my list = $COH). If $COH was the last stock on earth I'd retire from day trading. I had to give $LULU a really really big stop loss (what that means is that I gave the play a lot of room for it to prove me wrong) Remember yesterday? Yesterday I traded 500 shares because my stop loss was only about .08 cents, today I only traded 80 shares because I gave $LULU about .65 cents to prove me wrong. But you know what? I made approximately the same amount yesterday with my 500 share short and also a bittttt more today with my 80 share short. That is the key to consistency, same results, doesn't matter what I trade.

So here is the play, Oh wait let me show a picture of my trading plan this morning and what I wrote down for $LULU before the market open.

My ugly writing says: 69.80 - let move up...a lot of support. But surprisingly after the open the market climbed higher and $LULU consolidated a bit after doing crazy stuff. I liked this. That is a sign of weakness.

Enjoy my two charts. The first chart is the play in detail and what I saw and how I set up my risk / reward and traded $LULU and the second chart is a 5 minute chart just highlighting all my exits and profit taking areas.

1 Minute Detail of the Short Play:

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5 Minute Profit Taking Chart:

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Trade Tickets of $LULU

Click Links Below to Read my Previous Trades
$MXIM - Beautiful Trade on a Beautiful Monday Morning
The 1000 Share Short Fail

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$MXIM - Beautiful Trade on a Beautiful Monday Morning

$MXIM

I don't even know this stocks full name, it wasn't really really on my trading list in the morning but I did keep it for back up reasons because it looked like a nice setup. $MXIM didn't have the best downside potential but because the stop was so tight it gave a good return. Take a look at the charts below to see how clean of a setup it gave. $MXIM showed weakness below 28 and couldn't go up, also when it was shorted the markets also were declining and that helped to bring the price low. The only reason I didn't want to trade $MXIM in the morning was because if you look at the daily chart it had tooo tooooo many days down, look at the downtrend so I thought to myself what is the possibility of it going even lower? (not that high) but it actually did. It also gapped into heavy heavy support and $MXIM couldn't really crack the 27.60 area and go lower that is why majority of my position was released in that area.

Enjoy!  - great day today!

Right Click Chart, Open in New Tab. Its the same setup but different time frames.

1 Minute Setup:

 2 Minute Setup:

Here are my Trade Tickets: Note that I was done trading at about 10:36 AM

The 1000 Share Short Fail

This is why day trading is so tough, its when you know something is going to happen but also at the same time aren't too sure its going to happen. The stock $PAY I shorted in the morning, it kept bouncing and bouncing and bouncing and bouncing...you get the point. But at one point in the day (near 12 o clock) you can see I got fed UP and shorted 1000 shares (it got filled in pieces but at one point I was short 1000 shares at 17.94 because I wrote down in the morning "$PAY weak under 18" and I saw this and I acted on it but what happened? $PAY did some fake moves and printed above 18 and BAM I released my entire share size and took at $60 loss. NOW this is the upsetting part, I go to work and I check out the price of $PAY and I see this stock at like 17.08 at one point! HAHA! I felt like crying...I had shorted 1000 shares at 17.94...if I held on to my position I woulda pocketed about $860 That is right. $860 whole nasty dollars. I call it the 1 shot 1 kill play retirement plan play. And who ever has listened to the song by Rick Ross + P Diddy...the song "another 1" that song was written for trade setups like these because I NEED another 1! Here is the link https://www.youtube.com/watch?v=Effen_JcTz8

Please Enjoy the picture! Right click image, open in new tab.