It has been a pretty choppy first week of the new year, but under the radar a lot of momentum stocks have been breaking out. There was good strenght in some semiconductor and homebuilder stocks this week. I had a good week (I'm up 2.1% already for the year 2011), and look forward to the next few weeks of earnings season!
Here are a few trades I took this week. Not all of them worked out well, but I am forcing myself to keep my winners longer, so this has paid off already (see the LNG example). I saw some resistance at 7.00$ (round number) and at 7.22, the previous high. So those were my 2 targets and they executed perfectly!
I got triggered in MHR on this flag, and I accidentally set my stop as a sell limit, so I took myself out of this trade accidentally, for a 4.8% loss! It still looks good however, and hasn't dropped below the low of this flag on the daily. I might look to get back in it, only if it truly breaks out of the flag with conviction and volume!
This is a day-trade that I took in KLIC today. I scaled out a bit too soon, and unfortunately I didn't leave any shares on for a possible afternoon breakout. I'm too trigger-happy and need to work on my patience for these day-trades!
Ok, I'll try to post a watchlist on sunday, have a good week-end everyone!