Trading Journal Notes

Talked yesterday about the 20-day moving average being in play for the bulls and that is exactly what happened. Practically as perfect of a test as you could possibly have on a moving average, we then saw a hard and fast bounce into the close. I bought UPRO off of the MA for a day trade and made a quick 1.2% profit on the trade. Easy! Wish every trade was that easy ;). 

Now we got non-farm payrolls out this morning. The numbers don’t really matter, what does matter is how the market reacts to it, and so far the market is in love with it. So, we are going to have a double digit gap up this morning. Maybe we run in similar fashion to what we saw last Wednesday, I doubt it though. Careful in the first 30 minutes of trading as well, market may tip its hand early on whether it wants to gap-and-crap this market move. 

For an update on the T2108 indicator: get this, only 39% of stocks are trading above their 40-day moving average. That will improve notably today if we get a rally, but still, that is insanely low for the kind of price action we are seeing.  

S&P 500 Chart

Current Stock Trading Portfolio Balance: 

• 3 long positions

Recent Stock Trade Notables:

• American Airlines (AAL): Short at 44.76, Closed at 44.03 for a 1.6% profit.
• UPRO  (Day-Tade): Long at 95.35, closed at 96.50 for a 1.2% profit.
• OZRK: Long at $56.12, closed at $54.69 for a 2.5% loss. 
• FNSR: Long at $34.25, closed at 34.70 for a 1.3% profit. 
• UPRO  (Day-Tade): Long at 96.92, closed at 98.03 for a 1.2% profit. 
• JP Morgan Chase (JPM): Long at 87.21, closed at 89.67 for a 2.8% profit. 
• Chevron (CVX): Short at 110.03, covered at 111.85 for a 1.6% loss. 
• Flex Technologies (FLEX): Long at $15.62, closed at $16.57 for a 6.1% profit. 
• Baidu (BIDU): Long at $174.70, closed at $187.00 for a 7.0% profit. 
• Ollie’s Bargain Outlet: Long at 33.20, closed at $32.50 for a 2.1% loss. 
• Corning (GLW): Long at $26.98, closed at $27.45 for a 1.7% profit. 
• Illinois Tool Works (ITW): Long at $127.74, closed at $129.86 for a 1.7% profit. 
• Marriott Int’l (MAR): Long at $86.16, closed at $87.51 for a 1.6% profit.