
[WEEKLY ROUND-UP]

Blogger is playing up.. again. I need my own .com
Nothing worse than a gapping market for my style of trading, Thursday in particular was just straight up annoying as there weren't really new trades for swing traders to take positions in.
Before I cover this weeks watchlist, our one hold from last week - RTN hit the revised target at $41.60. The original target was $43 and that may still hit, but for record purposes lets stick with $41.60 flat.
Wow, I have really taken 2 monitors for granted, doing this kind of work with one is a nightmare!
AMB Amb Property
Very close to both entry points in AMB for a long, but if I am honest with myself I don't think I would have taken either. I was wanting around $15 for a long, but the retracement from the double top at $18 went only as far as $15.29. For my method of trading I wouldn't have taken this as it would have ruined the risk:reward ratio as set out by my trading rules.

The other long trigger was a retest of $18 as support (working on 30d/30m), and this price level has not been hit. A scalpable short was mentioned at $18-$15 and I said I wouldn't trade this, therefore I can't justify including any trades in AMB for record purposes. Currently AMBis testing a resistance trendline with horizontal support now at $18 which represents the next good entry for me. This stock remains on my watchlist given the variation of entries in the coming days and weeks.
BHI Baker Hughes
Short entry hit off the bat on Monday from $31. Targets were $30 and $27.50. I mentioned in a mid-week update that the position was closed at $28.25 based on a short term double bottom with positive divergence on the indicators. Let's assume $29 for the exit as you would have to be pretty elite to catch it at $28.25.

EWZ Ishare MCSI Brazil
Same situation as at AMB this week. Retraced to $0.30 above our trigger level and then had a nice pop over the resistance level. I would not have scaled in or taken a position here as it would have also ruined my risk:reward setup. The long above $43 will be triggered on retracement.

CHK Chesapeake Energy
No entry on CHK, current support at $20 which represents a decent entry. Remains on sub-watchlist with $20 a key level.
WY Weyerhauser
Choppy without trades. Remains on sub-watchlist with current resistance at $32.75, support at $31.
HCP HCP Inc
A few trades in HCP this week. Resistance at $20 was hit on Monday for a short entry. This hit a 123 at $18 and continued to break out. With my channel trading rules I would have sold 1/4 at $18 and moved a stop for the remainder to $19. I would have enjoyed seeing this one to $17 but no luck.

Longer term setups
MRVL Marvell Technology
Probably my favourite chart from the watchlist. Entry was triggered on retracement to 200EMA with entry price at $9.75 as per watchlist. Was slightly drawndown with that early entry, but my threshold is higher for swing trades. $10.50 was the measured move, and we closed in that region on Thursday.

AAPL Apple
Short triggered at $120 as the week drew to a close. Stop at $121, initial targets at $115. Nuff said i think.
JCP J C Penney
Great setup which was faltered by a choppy and gappy market. Entry long triggered at $22.60, stop triggered at $21.50 on an island reversal. Closed the week at $25.42 up 12% from the previous day after that insane gap. Disappointing.

XLK Tech spyder
Entry at $16.25 triggered. This entry was a little strange when you consider how I missed out on AMB and EWZ. I wanted the flat number on those stocks - which means I should have used the flat number here for the trigger ($16) but I was highly bullish here and felt this wasn't going to keep pulling back to that level. But it did, and AMB EWZ didn't. Oh well! Due to this, next weeks entries will adapted for scaling in 1/4 at 25% whole number levels.

Definitely remains on the watchlist, with $16 and $17.50 the key levels for me.
UNG US Nat Gas ETF
No indications to take a position either way. Continues to get beaten down, but the positive divergence also continues. A close above $15 will be the first sign of life here for me. Remains on watchlist.
GPS The Gap Inc
Entry on pullback to $14.50 triggered. This was a descriptive trade without the chart and looking back $14.50 is a horrible entry, given that it triple bottomed in the short term at the 200EMA at $14. Moving stop to breakeven at $14.50, with aggresive trade management should GPS look like not making it above the recent high at $15.25. Sub-listed.
GYMB Gymboree
Along with GPS and CSCO, this was a descriptive trade with a short trigger at $27.50. This was hit right at the close on Thursday. This setup is highly dangerous, given the immense volume on the day. $27.50 represents heavy overhead and the 200EMA so this will be an interesting fight. This has been promoted to full watchlist coverage for next week.
Trade chart for this week. Testing it out with Excel as a web page. Don't like the lack of sharpness on this monitor so no .png file. OK scrap that blogger is a nightmare importing html tables. Screenshot it is..

Drawdown from high: 30.56%
Running profit total: $4431
Realism factor: $2880
Decent week for the watchlist which looks stronger than it was due to the excellent RTN carry-over. In my opinion the best technical trades were the HCP and BHI shorts, with 3rd place to the XLK long. Unlucky not to get a trade in EWZ and MRVL, and was too strict on the entry criteria over at JCP.
The one negative issue from the past week was the drawdown from highs; as giving up 70% is unacceptable to me. For next week I will test out two new trade management ideas;
Scale in long 1/4 at $0.25-0.35 before the target for all trades.
Trail a stop at a 30% drawdown from peak profit per trade or -35% if there is a sound technical indication (price pattern, not macd or stochastics).
Post-script thought;
Macs do not lend themselves well to a regular trader, blogger and spreadsheet analyst.
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