Short Setup and Trades Journal

I covered all of my CHK short after that big crash day off the breakdown. It was looking like it was going to go red on the day then in about 2 minutes shot all the way to 7.20. It held the 7 area well. I immediately covered from a 8.30 short entry. I made about 12% on CHK. I also sold the short oil ETF SCO in the morning for a 4% gain.  SNMX below is up around the upper Bollinger band and is up a significant percentage in a short time. It was a good short today and could continue tomorrow.

Trades Journal

I'd like to find a good desktop recording software so I can run through charts and talk about them on the screen at the same time. I looked around not long ago and couldn't find one that didn't look like a pure virus download.  I knew of one a long time ago but forgot the name. Anyway, I had a lot of positions on lately. Some of them did what I expected the execution was just off. Briefly, ANTH -6%, LOCK -7%, QID -2%, DGAZ -9%,OHRP -6%. Still holding that THLD short.

Before that flurry I was up for the year and had more winners than losers. Those put me down a little. I knew they were going to all end up swing trades so I went a little undersized which helped. Based on my previous performance I knew the losers wouldn't continue and the gift that the oil breakdown gave just pushed me up some. I just put on oil short with SCO and CHK short. I'm up on SCO here and up very nicely on CHK short. I shorted CHK at $8.31 and it's at $7.03 now. I longed SCO at 92.84 and it's 95 now.

CHK Bear Flag

More lows look imminent off of this bear flag.

Chevron CVX Short

These major integrated oils are really getting dumped. There was strong selling volume on this new 52 week low for Chevron CVX. I expect more lows to continue so this is a good short setup on a new low below 88.01.

I did a post on the other blog Stock Pursuit about shorting long-term Treasuries awhile ago. There is a good setup to get short via the ETF TBT now. It hit some resistance in this little range it started. The stop out is about 23 on TLT.

 
 
 
 

Monday, July 27, 2015

Positions

My current positions are DGAZ long. THLD,ANTH,LOCK,OHRP short. I'm up slightly or near breakeven on all of these except ANTH. I didn't set a stop loss and have about a 3% loss currently on it. If it moves one tick above 11.25 a share which is the high yesterday I'm going to cover it all and flip it to a long. It could breakout again and it is a failed signal setup via the shooting stars failing. I'm at a turning point for this years trading. I've had more winners than losers in my trading and my account is up. It's all been coming together this year. I cut losers very well and lock in profits when they appear. My risk management has been on point this year overall.  I have stuck to clear setups too. My success on these positions will cement the rest of the year I feel.

NYMX Ran Over 100%!!!

I Traded NYMX a couple times back in April and posted it a ton on the blog. It hit a high today of 3.25! Todays trading watchlist did incredible. ANTH tanked at the open and I got filled short. I filled on OHRP and LOCK too. I never longed VLTC unfortunately. It ran as expected. I just got home and haven't checked anything since the open so I'm going to see how the positions are doing.

Update

I just posted up a couple posts below. The VLTC post. The shorts post to. I put up some indicators on ANTH and it is closing around the upper Bollinger band. With a shooting star to boot this is a great short setup on a break of Fridays low. I looked at RSI 2 as well and it is oversold. I am a bigger fan of Bollinger bands to detect overbought as is the case here. Click on the pic.

Short Bias OHRP ANTH LOCK

There are a lot of cool setups out there. These are shorts on a technical breakdown and red on the day. OHRP LOCK ANTH

OHRP is a short off this failed bull flag.

LOCK is a short on breakdown

 

 

ANTH has shooting stared TWICE here.

 

 

VLTC

Looks like a bull flag.

Natural Gas Short

It looks like natural gas is the only major commodity not breaking down. I compared natural gas to oil over the past year and they are correlated. It isn't a perfect correlation but when oil began tanking in the past nat gas followed. I remember last time there was just a lag but they will track each other in these crashes. I have an order in to buy the 3 X inverse ETF DGAZ this morning as pre-market is indicating UNG down again about 1%. After such a big candle that we had yesterday in UNG more weakness is imminent. Dive gas dive!

Dollar Breakout, Weak Commodities

I took off my QID to short the Nasdaq with a small loss. Roughly a 2% loss. I was happy to take a scratch when the price action was going against the position. All morning Nasdaq ripped higher and higher. I nailed the setup just waited to long to get short. Didn't expect such a huge gap down. I'm still short THLD and so far the price action is good.

I've been watching the USD and I see the long setup on the dollar breakout. This looks like a steady uptrend is going on. The crashing of gold and copper point to dollar strength as well. Gold is basically synergistic with the dollar as an inverse. It's not a multi timeframe breakout on the dollar IF it happens here but the upside is good. I will probably look at ETF UUP long.