My Swing Trading Performance Last Week

Solid week of trading! The market started off by establishing new all-time highs and breaking out of a two-year trading range that had previously rejected any such attempt. But this time it was different and as a result, quickly establishing a long bias was absolutely critical to maximizing profits in this market breakout. 

Here are all the trades that were initiated last week:

* Denotes an open position

As you can see, my trades were quite profitable…and while there were still a few losers that were unprofitable, it was due primarily to the idea that if the stock was not going to follow the market’s strong bullish bias, then I had no need to keep it around. Instead I chose to keep the loss small and divert my capital to more favorable trading setups. This was most clearly seen with DIS, YHOO, and NWL – none of which showed a desire to “pop” this week.

My favorite trade of the week was ironically the short setup in Royal Caribbean (RCL). Initially it was a hedge that I put on against my existing long positions as I thought there might be a short-term opportunity to profit from a 1-2 day pullback. The following day it, and most travel stocks saw a significant decline, and on Friday I covered that short position shortly after the market open. 

The most disappointing trade probably is a tie between Yahoo (YHOO) and Walt Disney (DIS). The former was breaking out of a multi-month trading range but instead of sustaining its momentum it fell back into the range and gave me little reason to hold it any longer. The latter was breaking above short-term resistance and I thought had a good chance of making a 3-4% move. That wasn’t the case and I was left with ripping out the stitching of my personalized Mickey Mouse childhood hat in frustration. 

Overall the market was good to me. Coming into the week, I wasn’t overly confident it would be able to establish new all time highs, but once it did, I covered the couple short positions I came into the week with and established some nice gains thereafter. 

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