Stock to Watch: Swing Updates

First and foremost, I hope you have a fun and safe Easter... those egg hunts can be dangerous! Seriously, did you see the article on the egg hunt that was ruined because greedy little moms and dads were behaving worse than their kids? ??

http://www.cnn.com/2016/03/27/us/pez-candy-easter-egg-hunt/index.html

But anyways, back to trading pennies and building wealth. I didn't enter any new trades today because the market wasn't speaking to me this morning. $ACAD was on my watch list and really took off pre-market but that was about it.

I thought I'd share one trade setup I found that looks promising as a swing, $ODP on the 4 hour and Daily charts is setting up to be a possible breakout if it can rise past the $7.70ish range, which would then find resistance at about $8 to $8.90 levels. But I don't think it would do this in one market day, maybe a swing of a few days.

I also took a glance at my big win from last week, $SKY and gave my self a case of the should'a could'a wouldas, because it closed the day at $8.23, which would have me sitting at a 83.3% gain and a profit of $748. But I'm not complaining. I took a healthy gain.

Not sure what tomorrow will bring or if I'll be entering any trades, so in the meantime here is an update on the current swings I'm paper trading, many are still in the red but saw some gaining today:

$GRPN +$30, $NADL +$16, $SDRL +$90, $TRIL +$36

Update on swing trades:

$AVP -23.08%, short with a target of $3 to $3.50.

$GRPN +3.70%, short with a target of $3 to $3.20.

$NADL -26.50%, long goal of 10-20%.
$RJET -9.02%, long, looking to exit as soon as ticker is traded again.
$SDRL -17.24%, long goal of 10-20%.
$TRIL -11.19%, Long goal of 10-20% 

Overall total on investment: -12.48%



$SKY Took Profits @ 68.82% Gains! Epic Inspiration!

I was pleasantly surprised to see a huge spike in my position with $SKY this morning when I glanced at my ThinkorSwim platform. I originally entered the trade as a multi-day swing to test out which type of trading I prefer... I'm still not sure by the way...


I used the daily chart to find a trade setup that looked promising and entered $SKY on 03-08 at a price of $4.49 per share with a small position of just 200 shares. This was because I was trying to limit myself to simulate about a $1000 investment for a small account.


The daily chart still shows the same pattern to hold but after such a large spike it felt like it was a smart time to exit and take profits, especially since I was way past the initial 10-20% target.


Now that I'm out of the position I kind of wish I had left a few share in to follow the chart pattern all the way to the sell trigger. But I'll continue to watch from the sidelines and once that trigger is shown I'll do a "what if" comparison.

I also closed another multi-day swing trade this morning $FIG as a short, though not because of spectacular gains or anything. I just lost confidence in the trade and wasn't crazy about the chart patterns. It's a small gain, but a gain is a gain, so I'm not complaining.

Update on swing trades:

$AVP -13.26%, short with a target of $3 to $3.50.

$GRPN +3.21%, short with a target of $3 to $3.20.

$NADL -28.50%, long goal of 10-20%.
$RJET -9.02%, long, looking to exit as soon as ticker is traded again.
$SDRL -19.46%, long goal of 10-20%.
$TRIL -12.08%, Long goal of 10-20% 

Overall total on investment: -11.19%



$TRIL New Swing, $SKY Swing Hits 40% Gains!

Not a huge trading day for me but I did enter a new swing trade with $TRIL as the set up on the daily chart look promising. The most exciting thing of the day was that my swing trade with $SKY hit over 40% in gains and my swing with $GRPN is nearing 5% gains.


Hoping to close out some of the trades this week if the charts suggest it.


SWING SETUP FOR $TRIL

Update on swing trades:

$AVP -16.18%, short with a target of $3 to $3.50.

$FIG 0.00% , short with a target of about $3.85.

$GRPN +4.44%, short with a target of $3 to $3.20.

$NADL -27.75%, long goal of 10-20%.
$RJET -9.02%, long, looking to exit as soon as ticker is traded again. (Seems there was some activity but the chart doesn't show movement??? Not sure but I have a sell order pending)
$SDRL -20.44%, long goal of 10-20%.
$SKY +40.98%, long goal of 10-20%
$TRIL -8.02%, Long goal of 10-20% 

Overall total on investment: -6.72%

$CARA Good Momentum Bad Timing

$CARA had a decent morning run up and I trying to jump in and catch some of the momentum. Unfortunately I was doing more chasing than planned entry and as a result I go in near the top... which of course proceeded to fade and fall... which I deserve, lol.


But I cut losses quickly and was out with only getting hit by a 2.70% loss.

Update on swing trades:

$AVP -20.16%, short with a target of $3 to $3.50.

$FIG -3.22% , short with a target of about $3.85.

$GRPN -1.73%, short with a target of $3 to $3.20.

$NADL -19.25%, long goal of 10-20%.
$RJET -9.02%, long, looking to exit as soon as ticker is traded again. (Seems there was some activity but the chart doesn't show movement??? Not sure but I have a sell order pending)
$SDRL -12.56%, long goal of 10-20%.
$SKY +36.75%, long goal of 10-20%
 

Overall total on investment: -7.55%

$VCEL Profits & Trading Due to Boredom

I decided to close out one of my multi-day swing trades today even though the pattern is still holding. I did so mostly because I'm thinking that any gains with the way I entered a few of the swings will be hard to come by so I better cash out with a profit with they come. Unlike $SKY which is currently sitting on a gain of 34.08% and was entered as a more gradual inclining stock, $VCEL and a couple others were entered after large spikes, which can be very dangerous because the pumps could be fake or over inflated, and I may never get back up to that point. It would have been smarter to find an entry way before the spike.


But that said, I'll take the profit and refocus on my entry.

I did make one stupid mistake today. Though luckily it didn't cost my paper account anything. Watching the swings do little was causing a bit of trading boredom and I started to watch twitter for possible plays into the EOD. That's when I came across an alert for $GRMN that it was about to test the HOD and maybe it could continue the momentum from the earlier part of the day.

It did hit the HOD and go a little past, but nothing spectacular. It was a mistake because I was trading because I was bored and that left me at risk when I shouldn't have been placing myself at risk.

Update on swing trades:

$AVP -25.73%, short with a target of $3 to $3.50.

$FIG -5.15% , short with a target of about $3.85.

$GRPN -2.72%, short with a target of $3 to $3.20.

$NADL -17.00%, long goal of 10-20%.
$RJET -9.02%, long, looking to exit as soon as ticker is traded again. (Seems there was some activity but the chart doesn't show movement??? Not sure but I have a sell order pending)
$SDRL -13.05%, long goal of 10-20%.
$SKY +34.08%, long goal of 10-20%
 

Overall total on investment: -9.52%



A Michael Savage Motivational

This isn't related to trading but so powerful I had to share. I listen to the Savage Nation on a regular basis and remember hearing this live... but when someone added the music and video it morphed into something so much more.

5 Tips for Small Account Traders: Well 4 Good Ones

Here is a nice post on Profit.ly from ConnorAlerts, one of Tim's students that has had a great deal of success. I agree with four out of five tips. #3 regarding a trading app called RobbinHood is not something I'd suggest going with.

I've heard of people having some major issues with that app not allowing traders to execute trades until they complete some survey. In the world of pennies time truly is money because it can move huge percentages in a very short period of time... sometimes within a minute you can see jumps of 10% or more.

Granted, commission slippage is a major thing to take into account with making your trades on a small account because your position size is so much smaller that often times that trade may only see a gain or loss of $20 to $60.

But accepting poor execution to save a little money isn't worth it in my opinion. When I chose to take profits or cut losses I want it to be when I hit the button.

http://profit.ly/user/ConnorAlerts/blog/five-tips-for-traders-with-25000-or-less