ODP

Bought ODP just after the open at 6.67 and its currently at 6.74. If and when we get close to 7 bucks I will put a b/e stop in to protect the position.

For Monday

I went over some weekly fibwits and have found a few that I like

BA 55.45 - 51.78
DTV 32.73 - 31.05
MSFT 30.37 - 29.00
ODP 6.65 - 6.10

ODP is probably my fav but we will see what happens. Also they could be a little more of a longer term trade.

Update

Yes Nathan....I know I have to update this. Now that we have a handle on how AIQ works and the signals that it spits out for us we can sift through the scans and post the very best ones on here for all the world to see.....before it happens. Please be patient....good things are coming.

AIQ Ready

After a week of flooring I am ready to get back to trading. Well, I did a couple of little trades last week and made a few bucks but nothing to really get excited about. What I am revved up about is our AIQ scanner is now ready. I will post everynight what stocks I am looking to buy or short and what price. Today I traded about 10 stocks on stockstar just to see how things were working. About 1.3% on the day so a very nice start. Tomorrow here is what we are looking at...

Short

ADBE 33.95
TCB 12.41
BSX 8.40

Long

PCAR 40.07
ROP 52.41

See what tomorrow brings.

The Aussie

I found a fibwit on the daily aussie chart but it had triggered already by the time I got up. I entered on the break of a 3 pt and suffered 270 bucks worth of drawdown before I got outa there for 1 tick in profit. A tick is better than a loss but geez cant I get into a trade and it just go to my target? I guess that wouldnt be any fun if it happened all the time but just once would be nice. No new buys in the stock market but PMI came up a bit. We have fibwits in the British Pound and Soybean Oil for tomorrow.

Mr. Yen Again

I didn't post yesterday cause nothing good happened. Dow down 210 points and PMI took it on the chin. Came back today tho and had a keybar up which if triggers could get us closer to getting out. I got into a yen trade late last night and stayed up till 3 am to manage it. I eeked out a 2 tick winner that came from a 450 buck drawdown. Not the trade of the year by far but at least it didn't hurt me. I have been trading keybars and fibwits off of the daily charts and although you have massive stops I roll to b/e as quickly as I can and follow the market accordingly. For some reason this seems to have calmed me down a little and I don't get that nervous feeling in my gut like I do when I scalp. I will try to trade more setups on the daily chart next week and see how things work out.

Mr. Yen

I found a keybar up on the daily chart of the yen last night and placed my order right before I went to bed. I got up at 2 a.m. to check and sure enough I was filled. Only problem was that I was down 300 bucks. Well the more I sat there the more it went up and once I got into profit I just kept rolling the stop up as we went. I walked away with 250 bucks. I would get up every night at 2 a.m. if I knew I would make that amount....lol. As far as PMI goes well it was another down day. I am not liking this one so much anymore but the trend is up and a retest of the highs is necessary....I hope!

Stapler throwing day

You know what really pisses me off about getting into a trade? Buying the high thats what. You buy a stock and it goes no higher on the day crushing your spirits for a quick profitable outcome. Today we had 2 stocks on the radar. The first one BLC gapped us and never looked back. The one we bought the high on today was PMI. Didnt get filled right off the hop but after we did Consumer Confidence report came out and crushed any hopes of a positive day. I have "confidence" that we will retest the highs in PMI being that it is in a solid uptrend but its just gonna take a little longer to do it is all. I like the get in, get out, get done in a couple of hours type of trade but this wont be it. Tomorrow or thursday should bring us a positive outcome.

Houston, we have a problem

I got up this morning to find that my Sierra Charts were not working....some problem with Transact...so the futures were out. I then went to check on some stocks for fibwits or keybars but found that stockcharts was not working either. Great, glad I got up at 4 a.m. for this. We did place an order for IVN....a keybar up on the daily chart but even with the dow being up 130 we were not filled. Days like today I wish I woulda stayed in bed.

Shut-Out

I tried but no trades today. I had orders in the Canadian Dollar and Soybeans but never got filled in them. Dow ended down 40 again and I had a couple of long and a couple of shorts to play but prices did not hit their trigger points to initiate anything. It was a very slow week and hopefully next week will be better.

Peaks and Valleys

Earlier this morning Rob did a trade in the Euro. It was just and I mean just above a peak on the 5 min chart. I held off because that peak made me nervous thinking that the Euro would have been held down by it. Well a long story short...Rob made out very well on the trade. Later in the morning I traded the 5 year note. Prices came up and tested a peak and that bar turned into a keybar down but the 1 hour chart was a little keybar up. I went in 1 tick above the keybar down and thats all it moved because that stupid peak held it down. I ended up losing 10 ticks on the deal so not bad at all but I broke one of my rules and paid for it. Never, Never, NEVER trade into a peak or valley on the 5 min chart no matter how good it looks, period.

The stock market had another down day after the Existing Home Sales came in under expectations so I did nothing there. We will be up and running with AIQ by next week I would guess, or so I have been told. It will be nice not to sift through chart after chart looking for fibwits and keybars anymore as the program will do that for us.

Are the Bears coming back to town?

The volatility after the FOMC minutes were released was high as expected. Right after the report the dow rocketed up and was sitting at +80 but by the end of the day the bears took control and we were down 80 at the close. We came within 2 cents of getting filled in SCS before it went the other way and tanked so sometimes not being in a trade is a good thing. Now the question is "is this just a pullback and the bulls are gonna jump right back on the train or are we in store for a longer term correction?" Nobody knows but time will tell....stay tuned.

Bye bye EL !

Well a little pop this morning and we are out of EL with $170 bucks for our trouble. Everything is just chopping around right now probably until the FOMC announcement at 12:15 my time. After that things could get volatile but I dont think the Fed will do anything with rates this time around. We will see if the fibwit in SCS triggers after the minutes are released.

We saw it coming!

Last night Nathan and I identified 7 different stocks that had keybars and we were ready to pounce given the chance. Overnight the US dollar got pounded and as a result the dow futures were up 50 points when the opening bell rang. We got gapped in most of them of course....I missed getting filled in VPHM by 1 stinking cent but Nathan got a part fill. I quickly sold that one for a small profit and then we did a tiger trade in EL. It looks like we will be in a small profit at the close and we are gonna hold this one overnight. A little pop in the morning and we will close out this position. Nothing done in the futures or forex today as Nathan was at work and I was all over the place trying to get into positions without much luck. Tomorrow is another day.

Kinda Slow

Well I only did one trade in the futures today....in the 5 year note and took 4 ticks for my trouble. The dow was down most of the day and ended up off 40 points or so which is the first down day in about 2 weeks. Maybe a sign of things to come here. Just having a quick look at a couple of charts I have found a couple of signals in TCK.B.to and BEXP and will initiate a trade if they trigger tomorrow. Our AIQ scanner is still under work and it may be the end of the week or early next before we can generate any signals from it. Time will tell but I think it will be very, very good.

Been a While

Well, its been about a year since I have used this blog but with our new AIQ scanning technology about to come online I have decided to track its performance. Next week should prove to be interesting to say the least. Here is hoping for fibwits and keybars abound!! Cheers.