▼

Monday, May 14, 2007

Today's Trades: DXPE, STLD and LFC

I bought 500 shares of LFC at $50.09. This is purely a breakout play. I am not waiting for the pullback. My intital target is the late 2006 high at $56.


I bought 500 shares of DXPE at $$47.40. This is a breakout-pullback play. My initial target is the recent high at $52.50, and a stop will be placed at $44.90.


I bought 300 shares of STLD at $47.70. It looks like a high, tight flag is forming off of the recent breakout.


While all three involve different variations of breakout setups (breakout with high and tight flag, breakout-pullback and pure breakout), a common theme is that they have all been trending higher and under heavy accumulation.
at

4 comments:

  1. Anonymous3:02 PM

    Hi

    I am reading your blog regularly and trying to learn as much as possible from your trading. Can you please explain little bit more about your entry on the pullback? In general I understand the tactics but I do not understand how you time the entry precisely. For example in your last pullback trade DXPE why you enter today and not, for example, yesterday or day before? I am more interested in general than in that particular trade.

    And just from curiosity: since you start the new blog I estimate that you are around 70-90% up in your portfolio? Is my estimation correct?

    ReplyDelete
  2. The Market Speculator7:33 PM

    To be honest, I'm not that precise in my entries. If I'm swing trading for a $3-5 gain, I am not going to quibble over 50 cents.

    I could very well have entered DXPE on Friday, I was jut focused on other sectors that day. Technically, the stock hasn't changed since Friday.

    I hope to have my trading results posted in the coming weeks, with detailed stats. It's been a good year, knock on wood . . .

    ReplyDelete
  3. Anonymous8:46 PM

    the years not even close to over

    ReplyDelete
  4. The Market Speculator9:17 PM

    thanks for your contribution . . .

    ReplyDelete