Interesting Chart Patterns To Monitor In Coming Days...

[MR]

Add McAfee (MFE) to your watch list.

[MR]

Here is current porfolio update. Only difference since Friday is TXI
completed spin-off of Chaparral Steel, so TXI was revalued. I own
now 100 shars of CHAP as well. Both were up a little today.

[MR]

Only been in CNQ for 4 or 5 trading days... bought 7/27 100 shares @ 40.39. It closed @ 44.97... up 4.58 so far.
QSII up $2.14 more for $8.74 paper profit in about 11 trading days... if it gets above MOB will be sitting really
pretty with it. We shall see... Wished I could have bought TD. Best wishes, Marc

Originally posted by MR - Posted: 07-27-2005 02:39 PM
Back from mini-vacation (saw "Grand Canyon of Penn., Hershey Park.) Revigerated for more trading.
Bought CNQ. Only 100 bucks left in account now. If had more money, would buy back some QQQQ.
Still holding positions shown below two posts ago.
Best wishes to you all, and may the trades all go your way this week.

Marc

[MR]

Covering PSTI before day is up.... Been thinking about selling some positions to raise cash for new trades... but I got greedy and stayed a day too long in PSTI. Instead of at least a $3 profit, now will have to setting with less than 50 cents.

I am also going to cover KRB, CSU, TCI, anc CHAP to reduce market exposure and raise some cash. I like this positions longer-term,... i need cash to trade.

[MR]

When I said in last post "TCI" I meant TXI... and CHAP... i just need cash to trade back into any pullback weakness....

[MR]

I am going to sell GME today. Not because I do not like it, but because effective now I am shifting into a very aggressive trading mode where I will only trade stocks with strong price movement, a clear trend, and where the gain or loss happens quickly. This experiment ends Labor Day weekend, so if I want to hit my personal goal of a $10, 000 profit, I have to move out of slow moving trends into the high flyers. If I had another account, I would continue to hold GME for longer-term positions. I still like them for that. Just not for what I need to do now with this small account. (I would also do same with SIRI, but the system I am using to help generate some of these ideas is showing a really nice risk/reward buy setup on SIRI, so I have to continue to hold it in hopes it will kick out higer soon.)

[MR]

Here are current positions... QSII up about $10 since entry. Last trade taken, CNQ, up a little over $5 in approx 7 days. Will be focusing more on those types of potentials this month, if can find....

[MR]

I am going to cover BZH and then try to buy it back later.... it is a money management issue... I still have a profit if I can sell before it hits 63.40. This stock is still attactive, and I Hope to be able to buy it back at a better price after this wave of selling in the sector stops.

[MR]

I am going to cover my 500 shares of SIRI and try to buy back lower, later, if possible. Not worth the risk any longer holding this position going into end of my last month of trading this test. Will take a small loss on it.

[MR]

Am considering buying 100 shares of Helmerich and Payne (HP) today. Using a 45 minute AGET chart to help me

Also, seriously evaluating a potential 100 share buy of GD today.

I bought a couple days ago 100 shares of NR.

[MR]

I bought HP, GD, and QCOM this morning. HP was my own judgement call, GD was another software generated signal which I have confidence in... am applying a MOB off previous pivot high to use it as a 'directional level' for stop loss management... seeing limited immediate resistance in GD, so if W3 trend up can return soon... all wave counts showing a W3 here, so I took the signal. QCOM, was my own judgement call. Placing mental stop loss below yesterday pivot low if wrong. Seeing this move today as a form of a Wave 4 pivot and still a potential bigger Wave 3 in progress to continue higher here once it takes out last immediate high.

Right or wrong, those are my new trades... we shall see if logic works with these new positions.

[MR]

Technically stopped out of GD for a small loss. Will stand aside now. Oh well... at least my oil stocks doing ok. Now it is time to prepare for a couple days off with family. See you next week. -marc

[MR]

I scratched some the new trades today (kept HP) and took small losses. I cannot watch market next few days and it is not worth risk.

Also, unless Crude backs off soon, I will be wrong thinking the Nasdaq was going to take out the Dec 2005 high before Labor day.

Are rising energy costs finally pressuring bigger profit-taking, position squaring, new hedges?

Watch ND #F to see it the Normal Ellipse (calculated from 7/705 low to 8/3/05 high) will stop the decline.

See u next week.

[MR]

Trade Experiment Update:
I got too aggressive, too greedy the last two weeks and made trading mistakes. First mistake-- I jumped into some new trades without waiting for pullbacks. That cost me approximately $500. (Those trades did not get posted here because of rule breaking and risk associated with them.) Second mistake-- I held on to a large energy sector position too long and gave back approximately $1,000+ in recent profits. Feeling bad because I know better, but this was part of my experiment. . . plus, a little humble pie is good for the soul. After making strategic adjustments to compensate for this learning experience, and having returned from a really needed 4-day mini-vacation rest, will patiently regroup for next proper risk/reward trade setup opportunities. This summer is not over, am not giving up on experiment. I am determined to make this thing work better.

[MR]

I sold MSO today for about a $3 profit. Loaded up on energy stocks. Crosing fingers and toes now. It is going to cost a lot to heat your homes this winter. Look at alternative fuel stocks as a possible hedge.