Still alive. Looked at ~100 charts today for the first time in over a month. Looking to get back into the swing of things slowly now that volatility has died down and the markets seem strong again.
I've had a position on DNR for a few months. Profitable position but it is definitely poor trading because I forgot about the position and didn't have a stop. Shameful but working to instill some good habits again. Currently looking at two trades tomorrow:
Filled in both of my positions: Also, with DKS's entry, the stock is already up 1.2%. Where has it come from and where does it have the potential to go...? Being up 1.2%, it can retrace and give back its gains. I think the prior chart showed a lot of consolidation but that consolidation was consolidation relative to a large gap higher.
That was quick. Stopped out of DKS. Also, my stop that I recently added to DNR was hit as well. Still sitting in GG, about $0.06 below breakeven.
Summer is wrapping up here in Chicago. I had a heck of a time socially but didn't trade at all really. Spent more than I expected it terms of dates, clubbing and drinking lol. Now is as good of a time as any to dip my toes back in the market. Additionally, I know of some local guys that have a group chat that has made me catch the trading bug a bit again. I currently have a buy order on some AFL calls if it breaks out to new highs. Additionally I might buy some SPY calls if the market can break above the $290 price level later this week. My two main goals right now are to trade less and to have wider stops. Unnecessarily tight stops are a subtle form of greed.
Four charts I like for tomorrow: VICI (Top Tier) RPAI (Top Tier) SIRI (A+) NI (A+) -- No Capital for it potentially
Filled on VICI. I need to work on my contingency order because I purchased a penny before I wanted to be in the position. As a result, the stock hasn't broken out yet and I am in the position. Yanked my CIM trade and have an outstanding trade on TRI now:
Trading stock really limits my ability to enter a lot of positions. That might not be a bad thing. The trades I am looking to enter tomorrow all are options trades FYI. Additionally I am looking to lock in some profits as a risk management tool tomorrow if TRI heads higher so that I am operating from a position of strength instead of fear of giving back gains. PG GLW: CIEN:
GLW went without, CIEN broke down and currently, I am watching PG to see if it can break above the resistance level:
Didn't get in PG. Still in VICI and TRI. Will raise stops shortly I believe. As for other positions I am looking in, I am low on capital since my other trades are stock trades, so I am leaning toward stock that allow for option trades where possible: ODP (must trade) KMB (Must Trade) '' HST (A+ Trade)
No fills on any of those trades. Not sure if it is the nature of the market right now or adjustments that I have made with my entry placement, but I feel like a few months ago I would have gotten triggered with a lot more fakeouts. Here is what I'm looking at right now. BHC - Ideal Setup DAL - Ideal Setup PSEC - Ideal Setup Not nearly as many set ups as I saw yesterday. SPY was actually up on the day but it destroyed a lot of setups I was looking at... Interesting.
BHC and DAL broke out. Missed them both because I can't do contingency orders in my backup account smh. Here is what is on the watchlist for tomorrow: MRO CTL
