If you think the market will pullback........

Friday Daytrading Actin...and a new Swing Trade Entry

Morning Action

As mentioned previously, I have decided to fully trade my auto system starting in January. The results thus far in sim mode for December are encouraging with about $13,000 of profits. In order to do this, I need to open a new account and platform in TS - that resquest is in and pending. In the mean time, I activated the system today in my existing discretionary account; however, 3 of my stocks used in the auto system are not easy to borrow, which means the hands on for the auto system will be a bit more than I like until I can filter those stocks out completely.

No discretionary trades today.

Morning Trades

The one minute Kicker worked well on QLD, which was triggered by action in the Naz and SP futures. Pretty much everything about this trade worked. Needed to wait around for the low vol Kicker. I would have entered earlier; however, I was distracted with system trades and caught this right when it hit.

Good thing too because I am just offsetting losses today with trades like this. Would be nice not to have the other losses, but this is trading. I have made 6 trades thus far and have 2 W, 3 L and 1 BE. The Trades are as follows:

1. CMG System Trade: -$482
2. QLD 5 Min Coil: -$92
3. QID 1 Min Fib: +$462
4. SRS System: -$282
5. NYX System: -0-
6. CMG System: +$274.50

Total P/L: -$119.50

I will be waiting for the 5 min bullish convergence on the Naz Futures for the next trade. I will most likely abandon system trades for the rest of the day unless volume and momentum pick up. The Advance Decline line is bouncing in a narrow range today. Ticks are also narrow. With wait for internals to widen before I commit to system trades.

ALVR Update

I am currently holding the 1/3rd position after selling down 2/3rds of my position before and immediately following earnings. I believe in the ALVR story and will buy up more when the dust settles, unless I experience a 25% draw down of my 1/3rd position.

Purchased 500 shares CLWR @ $21.40

Increased my position to 1/2 on move up yesterday beyond 2% of entry. Had a hard time doing it in all the carnage, but rules are rules. The news was that there are merger talks with Sprint. This is a WiMax play just like ALVR, which has recently tanked following earnings.

Sold 1,000 shares ALVR @ $12.67

Earnings report was ok - in line with everything, but holders were expecting more. I have been watching the stock steadily creep lower. Sold 1/3rd position when my net profit hit 10% - down from 20% at open. So, I sold 1/3rd position at +20%, 1/3rd at +10%, and am now holding final 1/3rd. I will sell if it gets to break even.