Today's Trade: TZOO

Boy, I wish I would have held on to SMSI a little longer. Hindsight's twenty-twenty, but maybe I violated my "micro-managing" rule that I just posted yesterday. Still, it did make a nice profit, so I'll try to let it go. The stock might become attractive again on a pullback to $18.

I've added another 500 shares of TZOO at $36.47. I really like the way the stock is pulling back to the breakout out point. I'm going to place a stop just under $36.

I would like to add some energy, but I need some sort of pullback to justify an entry.

Today's Trade: SMSI and TZOO

I sold my remaining 500 share of SMSI at $17.98 (entry at for a $15.96) for a $1,010 gain (+12.6%). I entered on an NR7 pullback to the breakout point. My exit was timed at recent highs, although I do think this stock has the potential to breakout to new highs.


I also bought 500 shares of TZOO at $37.72. I originally was looking to enter on a slightly deeper pullback, around the breakout point at $36. However, it looks like a high and tight flag pattern is forming, so I'm willing to get in early.

Trades: SBGI, CELG, VDSI, SMSI, RIG

Yesterday, I sold 500 VDSI at $18.24 for a $285 gain (+3.2%). I am still holding 500 shares.

Yesterady, I sold 500 SMSI at $16.42 for a $230 gain (+2.9%). I am still holding 500 shares.

Today, I sold CELG at $54.90 for an $830 gain (+3.0%).

Yesterday, I bought 500 RIG at $80.30 and sold today at $82.30 for a $1000 gain (2.5%). I got lucky on this one.

I bought 500 shares of SBGI at $15.23. The trade is detailed below.

The RIG Trade:
As just about everybody has over the past week, I have been watching oil drillers very closely. While there have been nice moves, very few were trading around support or resistance levels. RIG is one of the exceptions. It formed a "W" double bottom formation and was nearing resistance of this formation at $80. I placed a limit order at $80.10 Wednesday night.

When I checked quotes about a half hour after the market opened Thursday, I saw that the stock was trading at $80.79 without gapping up and assumed I was in at a good price. However, when I checked my portfolio, it wasn't there! For some reason, my order had not gone through. I was royally pissed, as I saw a lot of potential for this trade. As a last ditch effort, I placed a limit order at $80.30 and hoped the stock would pullback. I checked again in the afternoon and saw that it was trading close to $82, and just assumed it never pulled back. It wasn't until much later in the day I realized it had pulled back for a very short period and I did get in at $80.30. My bad mood instantly reversed itself.

SBGI has printed two NR7's in a row (lowest range day in the last 7 days) and is nearing near term highs at $15.50. The stock has been under accumulation during the recent consolidation of its gains as well. This is an early entry before breakout, which I sometimes do if the stock looks really good technically and prints an NR7.

Trades and Vanity Performance Stats

I sold 1000 shares of QID at an average price of $53.86 (entry at $55.50) for a $1640 loss (-2.9%).

I covered 200 shares of AAPL at $92.05 (short at $90.10) for a $395 loss (-2.1%).

I covered 500 shares of STLD at $41.08 (short at $39.08) for a $1000 loss (-5.1%).

I sold 200 shares of VLO at $61.87 (entry at $60.24) for a $326 gain (+2.7%).

I bought 500 shares of CELG at $53.24.

I bought 1000 shares of VDSI at $17.67.

I bought 1000 shares of SMSI at $15.96.

I hope to detail the three current trades tomorrow with charts.

When I got home I was feeling depressed about the today's losses. One of my trading buddies helped put things in perspective by telling me to take a look at all of the trades I had made leading up to today. So I did :) I've compiled some vanity stats to help pick me up.

Since the February 27 sell off, I have made 24 trades (excluding the three trades I made today that I am still holding). Here is how I did:

• Win Rate: 71% (17/24)
• Total Gains: $13,962
• Average Gain: $821
• 
  
• Loss Rate: 29% (7/24)
• Total Losses: $4,029
• Average Loss: $575
• 
  
• Total Gross Profits: $9,933
• Profit After Commissions: $9,597

In 23 days, I made $9,597 as a part-time trader. Meanwhile, I made $5600 as a full-time worker. Trading Rocks!

Okay, I feel better now. Feel free to curse and throw tomatoes at the screen in disgust over my vane behavior.

To review all of my trades, go to the "Trade" label below.

Some Good Looking Charts (and a fight clip)

I haven't been able to find too many good looking charts on the long side. However, I do see a ton of nice looking charts for short setups that just need a little bigger bounce. Here are five stocks that look darn good in any market: SMSI, AKS, LDG, FDG and VLO.



For all you UFC fans, here is a preview of this Saturday's match between Randy Couture and Tim Sylvia. Party at the Spec's place!