Monthly Archive:: May 2008

Why Stop Loss Should Be Part Of Your Trade

I played MR again, trying to short it below $40, since it was a pivot resistance point. Confident from my previous short attempt i was hoping for a repeat. I shorted 600 MR @ $39.99. This was exactly the same trade i played earlier. However the only difference this time was I

Some Trades Work Just Awesome

Pacific Sunwear of California, Inc. (PSUN) played out exactly the way I had planned it. It feels awesome when it does. I sold PSUN at $9.51 with a profit of 6.5% (my entry point was $8.93) in 2 trading days. Woohoo….

When Is It Not A Good Time To Short

Chico’s FAS Inc. (CHS), a specialty retailer of casual to dressy clothing and accessories, reported lower first quarter profit due to a decline in sales. The company continues to expect negative comparable store sales and lower earnings for the first half of 2008. Net income posted by the company plunged to $12.7

WatchList For 28th May 2008

Watchlist for Long Entry Watchlist for Short Entry

Why Am I Playing Lousy Retailer

Pacific Sunwear of California, Inc. (PSUN) is a specialty retailer focused on action-sport inspired casual apparel, accessories and footwear designed to meet the needs of active teens and young adults. I am playing PSUN, purely on technicals. PSUN formed a bottom during the month of Jan 08 at $8.87. After a lousy

Why You Need To Be Patient With Your Trade

Trading takes alot of discipline. Good traders always make a set of trading rules and stick to it. They have already calculated their exit positions even before trade entry. Planned trades always work out better than no-exit strategy trades. That said, most traders always end up breaking their own trading rules. More

Bearish Engulfing Pattern

A chart pattern that consists of a small white candlestick with short shadows or tails followed by a large black candlestick that eclipses or “engulfs” the small white one. As implied by its name, a bearish engulfing pattern may provide an indication of a future bearish trend. This type of pattern usually

Trade Tips For 7th May 08

RSI = Relative Strength IndexSlow Stoc = Slow StochasticsMFI = Money Flow Index S1 = 1st level of supportS2 = 2nd level of suppport R1 = 1st level of resistanceR2 = 2nd level of resistance

U.S. Pending Home Sales Probably Fell in March for Second Month

Bloomberg has latest story about US Pending Home Sales: U.S. Pending Home Sales Probably Fell in March for Second Month Fewer Americans probably signed contracts to buy previously owned homes in March for the second consecutive month as falling prices and tougher loan rules discouraged buyers, economists said before a report today.

Trade Tips For 6th May 08

All of the following are trading tips for 6th May 2008 only. Short Entry Big Lots, Inc. (BIG) through its wholly owned subsidiaries is a national broadline closeout retailer. AmeriCredit Corp., (ACF) is an independent auto finance company. Corinthian Colleges, Inc. (COCO) is a post-secondary education company in the United States and