Tuesday May 31
Seeking Alpha Analyst Since 2009
Today was a weak day for me trading wise. It seemed like all of the names I played refused to stay in nice trends, which is apparently my forte. I need to learn how to play range-bound stocks intraday. In general, there just was not much volume in the market for most of the day. The stocks I played today were AIG, CCJ, MOS, MRVL, QCOM, and TIF. In the end, I lost a few hundred dollars in pre-defined risk, stopping out of all 6 names (some more than once, and some saw minimal profits). One of my issues so far has been over-trading intraday. In the beginning of the summer, I had more success by focusing on one or two stocks that were making big moves and trend trading them. Sitting on my hands and not over-trading will be a skill that I focus on the rest of this week. I do not want to have another post like this one.
However, we had a very strong close with a lot of volume, so I had no problem picking up four new long positions in EZPW, ZIOP, ZOLL, and PII. These four trades are relative strength plays. The plan with these is to trade the breakout and ride the uptrend. I've executed this play many times over the last year and a half with good success.
Thanks for being a part of Swing-High.com. Always trade with a stop loss and manage your risk appropriately.
~ Jason
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