Welcome to Stock Wise-Week #2-07/13/09

I believe that greatness is measured by small gains. I am a equities trader. My trading goal is to achieve one to two percent per week I have a sixty one percent success rate. My average return on investment is .50% per $100,000.00. I have no problem going short or long; however since stocks tend to go down faster then they go up most of my trades will be bearish. I am a technical trader. I only trade one to maybe four major chart patterns. These patterns occur on a regular basis. Most trades are only held for one day. Sometimes I will hold the position overnight. The reason for holding the position overnight is because I sometimes take advantage of the gap that happens in after hours trading.

Each week I will post at least one trade. I will post the chart and my recommended action via long or short before the next days open. I will also post the results of that trade along with a running total of my gains and losses. I know that posting one trade a week is very hard, but it takes discipline to accept your winnings and live with your losses. It takes a lot work to set up one trade for the week. I also do more trades, but I start my set up for the week on Friday and finish just before the market opens on Monday most weeks. I have other trades that I put on, and I keep a traders log for everything I do. Theses are available for those who are serious about working together in this very lucrative business of stock trading.

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Starting Balance: $100,000.00
Trade Week: 07/13/09 Thru 07/17/09
Current Balance: $104,115
Trade date: Tuesday 07/14/09

Trade #02 of week #2

Amount traded: $ 47,263.0

Analyses Steps:
01. Long term direction
02. Short term direction
03. Above or below MA’s
04. Upper and lower trend lines
05. Support line, and Resistance line
06. Previous days Candlestick
07. Momentum if available
08. Volume
09. New lows, or New highs
10. After hours trading

Session Stats

SYMBOL : AIG

COMMENT : You can never catch the bottom. I have reach my goal for the week.

STOP LOSS: EOM (eyes on market)

ENTRY POINT: $ 15.65

EXIT POINT: $ 14.50

Account Value: $ 104,115.00

REASON FOR ENTRY: AIG-gapped up from yesterday with a bull candle with a very short shadow. Price broke through the upper trend line, with a 24% gain. Price moved up during the after hours trading. Then the price went to $15.42 in after hours trading. Price is well below all three MA’s. After two days of bull gain, Volume is decreasing, and momentum is high I believe that there will be some profit taking. This is a counter trend, so get out with reasonable profit.

Successful trade: Y

Bullish trade:

Bearish trade: Y

Loss: $

Profit: $ 3,463.00

Gain: 7.9%

Shares Traded: 3020

REASON FOR EXIT: Price was close enough to support line. Took profits and got out.

Weekly goal reached? YES

Trade date: Monday 07/17/09
Trade #01 of week #2
Amount traded: $51,168.70
Total trades for Week #2:

1. OVERALL TREND: Bullish

2. MOMENTUM: Peaking

3. DAILY AND WEEKLY: Bullish

4. SUPPORT AND RES: Price broke through Resistance

5. MOVING AVERAGES: Above all three 10, 30, & 50

Session Stats

SYMBOL : MNTG

COMMENT : Never send good money after bad money.

STOP LOSS: 1%

ENTRY POINT: $3.58

EXIT POINT: $3.61

Account Value: $ 100,652

REASON FOR ENTRY: Price showed a very long bullish candle with a short shadow at the bottom. Price broke through resistance line and kept going. The price went down .17 to $03.31 in after hours trading. The price is above all three MA’s. I believe the play is bearish. This is a counter trend play, but I believe the risk is low, and the return will be very good. I will try it catch it at the open. As always this is an EOM play.

Successful trade: N

Bullish trade:

Bearish trade: Y

Loss: $575.00

Profit: $

Shares Traded: 14,135

REASON FOR EXIT: Stopped out at 1%