Welcome to Stock Wise-Week #4-07/27/09 Thru 07/31/09

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:#04-07/27/09 Thru 07/31/09
Current Balance: $106,746
Trade date: Wed- 07/29/09
Trade #02 of week #4
Amount traded: APPOX- $52,200.00

Real time data for entries and exits: My Etrade accout.
Analyses Steps:

01. Long term direction-Bearish
02. Short term direction-Bearish
03. Above or below MA’s-Below all three
04. Upper and lower trend lines-Price is channeling
down between upper and lower trend lines.
05. Support line, and Resistance line-four days
ago price broke below support which is now a
resistance line.
06. Previous days Candlestick-was a short day
bull candle.
07. Momentum-appears average.
08. Volume-appears average
09. New lows, or New Highs-The price is in new
low ground
10. After hours trading-No after trading.

SCORE: 08
I believe the play is bearish. The 10MA is at $36.80 and could act as a minor resistance point. If the price goes above that point or opens above that point I will wait until it breaks below that point. The 10MA is at $38.11 and could act as a minor resistance point. Major resistance line is at $.39.00. This is a trend trade therefore I will be looking to short this stock.

Session Stats

SYMBOL : SKF

COMMENT : I am getting out of the trades too soon. The reason is that I have a fear of not making the goal of this blog. Next week I am going to hold my position longer.

STOP LOSS: EOM

ENTRY POINT: $36.52

EXIT POINT: $36.20

Account Value: $106,746

REASON FOR ENTRY: I believe this is a short play; I will wait for confirmation on the open. If it opens above I will wait to see if it drops below the support line. If it opens below I will get in and set my stop loss at the resistance line.

Successful trade: Y

Bullish trade: N

Bearish trade: Y

Loss: $

Profit: $445.00

% Gain: .09
Shares Traded: 1,423

REASON FOR EXIT: Profit taking. Over all market appeared to reverse.

Weekly goal reached? YES

Trade Week:#04-07/27/09 Thru 07/31/09
Balance: $106,300
Trade date: Monday 07/27/09
Trade #01 of week #4
Amount traded: $52,200.00
Real time data for entries and exits: My Etrade accout.
Analyses Steps:
01. Long term direction: Bearish
02. Short term direction: Bullish
03. Above or below MA’s (10,30,50): Price started just below the 50, but well above the 30, and the 10MA’s, with the 10 turning up.
04. Upper and lower trend lines: Price has been moving in a sideways channel between support and resistances lines, but the price is just at the upper trend line.
05. Support line, and Resistance line: Price gapped above the resistance line, which is now the new support line.
06. Previous days Candlestick: Previous days candle was a long complete bull candle which broke thru the resistance and was push back down to rest on the new support line.
07. Momentum: Momentum is peaking.
8. Volume: Volume is high.
09. New lows, or New highs: Not in new high or low ground.
10. After hours trading: No after hours trading.

Session StatsSYMBOL: HRZ
COMMENT: Remember the goal: 1% or better.
STOP LOSS: $5.30
ENTRY POINT: $5.22
EXIT POINT: $5.12
Account Value: $106,300
REASON FOR ENTRY: I believe this is a short play; I will wait for confirmation on the open. If it opens above I will wait to see if it drops below the support line. If it opens below I will get in and set my stop loss at the resistance line.
Successful trade: Y
Bullish trade: N
Bearish trade: Y
Loss: $
Profit: $990.00
% Gain: 2.0
Shares Traded: 10,000
REASON FOR EXIT: Profit taking. Enough is enough.

Weekly goal reached? YES