The Student Loan Ranger

Not quite a Crystal Balling post, but a general rundown of my setup for the coming week for those interested.

My pool of stocks this week, firstly those from Europe (8am-4:30pm):

• British Airways
• Siemens
  
• Royal Bank of Scotland
  
• GlaxoSmithKline
  
• TOTAL
• Nokia
• Vodafone

And American (2:30pm-9pm):

• United States Steel
• Bank of America
• Citigroup
• Monstanto
• Google
• Transocean
• Microsoft
• General Electric
• Cisco
  

Dependent on market sentiment and oil prices this also includes:

• Oil refiners (Valero, Tosero)
  
• Airlines (Delta, UA)
• Solars
  
• Oil services/exploration (Halliburton, Exxon)
  
• Freddie Mac and Fannie Mae on potential recovery plays with a very small position
  

The first 2 lists are my core for this week, and I have spent a lot of hours today and yesterday on my technical analysis for this week.

My main timeframe this week will be the 15 minute chart, while referencing the daily for specific patterns, and the 30 minute for confirmation of entry and exit.

The main patterns and entry/exits I am looking for this week are:

• Flags
• Re-tested double bottoms/tops
• Wedge breakouts
• Moves off line of ambiguity
• Strong trend reversals
• Expansion breakouts
• Cup and handle
  

1. My exit criteria is from support or resistance area, to resistance or support area. This depends greatly on whether the stock is in a wedge/channel or has broken a pattern which has a pre-defined exit point anyway.
2. Where there are any gray areas after entry, my stop will be the previous bars low. In all other cases I will trail the stop judging by support and resistance areas.
3. I will also be using the 25, 50 and 100MAs, as well as the 250 on BAY, BAC, C and X.
4. My position size will be dependant on margin, however I will probably use a third of what I would normall enter with.

Of all weeks trading so far, I think I have spent the most prep-time on this one. Fail to prepare, prepare to fail and all of that.

I will upload my trades on Wed and Sat so keep an eye out.

My top 3 rules for this week

1. Follow the rules you idiot!
   
2. Do not fear the retracement
3. Take the money and run