A different Kind of Price action

31 issues jump more than 4% intraday and 14 issues up 4% from previous day closed.

Foreign buying  4 Billion..

First time in many months.

Not only that, at the moment DJIA futures up 105%, another first in many months.

From My Diary Posted early this morning

From my Diary Posted Yesterday

AP 29 to 30.1

URC 43 to 44

PX and URC Just another Green Signals

URC

PX

URC

previous green signal posted

http://tracer-tracer.blogspot.com/2011/05/green-signals.html

Last Friday green signal.

Green signal is not always 100% correct, but if you have a plan, it does not matter at all, I just buy it, then when another signal appears, I add more positions using pyramid system. As per Mikos blog he is surprise with URC price action because of negative earnings and the price went up.

http://www.bworldonline.com/content.php?section=Corporate&title=High-input-costs-drag-down-URC-earnings&id=31082

Because the price action may be telling you that the stock is dis­counting a potential change in the fundamentals that is not yet evi­dent. The combination of strong price action and weak current fundamentals often occurs in turnaround companies or companies with a new technology whose potential is not yet widely understood.  Mark Minervini – market wizard

LCB Fractals

LCB price movements is almost the same as PX, but hard to identify in one glance. I believed it is because of the noise, a lot of manipulators or tsupiteros. As per my quote of the day, manipulators can affect the price for a day or two only but they cannot change the trend.

Even fund managers cannot change the trend, they can only accelerate the trend they are riding because of their deep pockets.

PX Fractals 2

http://tracer-tracer.blogspot.com/2011/05/px-fractals.html

A fractal is an object or quantity that displays self-similarity, in a somewhat technical sense, on all scales.

 http://mathworld.wolfram.com/Fractal.html

The price pattern reminds you that every movement of importance is but a repetition of similar price movements, that just as soon as you familiarized yourself with the actions of the past, you will be able to anticipate and act correctly and profitably upon forthcoming movements. Livermore

Traffic in US

Thanks for the readers, have observed an increase in readers in US and Alaska. I hope you all find my blog worth reading. Please bear with my English, spelling and grammar. I always skipped my class in my younger years and just play the guitar. I should have discovered the market earlier.

From My Diary Posted Last Tuesday

not a bad call for a sleepy week from wed. to friday

       25 may  -  27 May

LCB 0.87 to 0.95 =8%
PX 19.08 to 19.70 =8%

Big John stocks
CEB 91 to 85.45 = minus 6%
URC 39.9 to 43.0 =8%
JGS 25.9 to 25.80 =0%

From My Diary 20th Posted Last Saturday

Not so impressive call for week 20. More like a sideways week, good for tsupiteros.

P6 cannot break the 4300 area. Closed week 19th at 4,292 and week 20 4,285.

Only the Banking sector and Mining and some third liners without volume gave some life for the month of May.

Emotions

Trading is an emotional game, the charts reflects the emotions of all traders. It is really sad to see good traders and well meaning forums, fighting against each other. That is the reason why I do not post in stock forums anymore. At least here, this is my blog, I am the boss. :-)

Trading should be fun.

You must put down your own figures, don’t let anyone do it for you.  You will be surprise how many new ideas you will formulate in doing so, ideas which no one else could give to you, because they are your discovery, your secret, and you should keep the your secret. Livermore

From My Diary Posted Last Wednesday

PX Fractals

Freaky Fractals

"I continued keeping my records, confident that they had a genuine value which only awaited my discovery. At length the secret unfolded. The record told me plainly that they would do nothing for me in a way of intermediate movements. But if I use my eyes, I would see the formations, patterns that would foretell major movements. "Livermore

From My Diary 17th May

Weekly SPX

Was reading Mikos Blog, maybe this is why his bullish. I also see lots of new highs to be broken.

Just look at the red blips in the encircled  area, trend just went up. Corrections are needed to shake out weak hands.

Performance

Have lightened up my exposure due to a planned family vacation. Will be out for a week.

I have reset my portfolio last April 1. 

April 1 to date up 33%. Will probably reset again this coming June 1. Why? just positioning of funds to MF. (Probably trading is not exciting to me anymore,)

Principles of Peak PerformanceThe first principle of peak performance is to put fun and passion first. Get the performance pressures out of your head. Forget about statistics, percentage returns, win/loss ratios, etc. Floor-traders scratch dozens of trades during the course of a day, but all that matters is whether they’re up at the end of the month. 

Linda Bradford Raschke

 

LCB My Kind of Kick

http://tracer-tracer.blogspot.com/2011/05/from-my-diary_04.html

From my Diary about ICT

I was already suspicious about the accumulation in ICT last 28th April. Just do you research to know why.

" To make money trading, you do not need to forecast the future. You have

to extract information from the market and find out whether bulls or bears

are in control. You need to measure the strength of the dominant market

group and decide how likely the current trend is to continue. You need to

practice conservative money management aimed at long-term survival and

profit accumulation. You must observe how your mind works and avoid slipping

into greed or fear. A trader who does all of this will succeed more than any forecaster. A. Elder"

Price Action

Maybe a lot of traders are confused with the saying, " All the information you need is right in front of you.

The price you see in the screen is always final. So price action always speaks for itself. So, how can you analyzed a price if it is going up or down? That is were pivotal points starts. We need reference points or my Green signals. You can determine the price if it is going up or down from your reference point.

That is why it is important to probe on your reference point, to know if you are on the right side of the market.
Important thing to watch from the pivot point is the line of least resistance and the speed of acceleration from farther from the point.

The Green Signals

It has been a long time since I last posted a green signal.

From My Diary May 9 to 13 picks

Almost a perfect picks

PX 18.06 to 19.76 = 8.6% up

Big John

CEB 93 to 96.25 =3.4% up

URC 37.9 to 39.55= 4.2% up

JGS up 25.6 to 27.50 = 6.9% up

LCB fell 12% today, did not sell any, I have a lot of green behind me to be shaken out.

Dividends and Trend Following

One thing good about trend following and green signals, You get dividends without even trying or reading any news. You just simply read the tape. You profit from the rise and dividends.

CEB has 3 pesos cash Div. which I was not aware, and payable today.
Now it is URC, so I expect some good moves from URC at 1.9 per share :-) payable 27 June.

Just like my first quarter Dividends checks. from AEV, RFM, and SFI.

Trading Suspensions and Gaps

It was good that there was no price adjustment during the suspension, Maybe PSE has learned that it is hard to fill price gaps due to price adjustment. It is bad for small time traders, it is also bad for fund managers, because they will get stuck for a long time, if they will not sell with a big lose. No matter how they buy it up, it always goes back to the adjusted price, like NI, MPI, FGEN, and the recent DGTL and SMC,

So, I hope next time,do not suspend trading when there is news coming out. Let the price speak.

". When the stock you are manipulating doesn't act as it should, quit. Don't argue with the tape. Do not seek to lure the profit back. Quit while the quitting is good and cheap. " Livermore

PX and LCB

Nice price action, green signals for PX

URC

I always pay strict attention to gaps, it is an important price action.

AUD USD Time Line 3

Now you see how disastrous catching tops and bottoms, was not able to monitor it due to brown out and when I open this morning ouch....

I visited the site of my best friend who loves catching bottoms,daily multiple trades and holding positions of 2007 crash. His portfolio is still in negative territory to date.

There is no such thing a best trading tactics. It should be trading tactics that works for you. I am very poor in swing trading. Have to rest in FX. Will start probing again for next FX to trend.

JGS

AUD USD Time Line 2

As expected, when I did not follow my rules, I went short, and it just went up, now I am down 20%. Anyway, tried scalping, and yes I retrieved some of my loses by just buying and selling when it touches trend lines. This is due to my frustration on listening to others.

PSE

I believed PSE should stop suspending trading before news.

I am 80% in with LCB and PX.

Week 19th From My Diary

Not a Bad call, LCB up 0.88 to 0.93,  PX up

Big John CEB 93 to 93.5 , URC 37.9 to 38.3 up, JGS up 25.6 to 27.15

AUD USD Time Line

Entered April 16

Following trend is not catching tops and bottoms, if you got the current trend, just watch for danger signals.

I could have earned 50% in this run, but just settled for 20%. The biggest problem now, is I entered short positions, which at the moment wipe out my 20% gain. ( I taught I was superman again, this has a bad psychological impact) If uptrend continues, then I have to sell and take a rest from FX. I believed I should have sold near 1.10, I was too greedy and should be contented with 50% profit. Anyway, as I said before, I am still learning.

About GAPS from my Diary

From My Diary

I love New Highs 0.78,all the miserable losers are out.

Active Picks

CEB 3 White Soldiers

I posted a buy for CEB last April 23, Saturday at 79.95, this is what trend following is all about, the  price does not matter as long as it goes up and you have a plan before you buy. The best thing about it, no waiting time and hoping.

Bullish Three White Soldiers Pattern is indicative of a strong reversal in the market. It is characterized by three long candlesticks stepping upward like a staircase. The opening of each day is slightly lower than previous close rallying then to a short term high.

http://www.candlesticker.com/Cs63.asp

Trend Following

You might be confuse in what I am doing, Trend following only follows the trend, that is the easiest way to profit,
But you might notice I am trying to anticipate the market which is not trend following.

I am just trying to improved my entry price. Exit is not my problem, I can exit with a loss anytime if I see danger.

From My Diary

Just the first day of the week and 6 picks went up out of 8.

The reason I do not like to post it "live" or prior opening, because of my experienced in parabolic spikes.

Since I open this blog last November, most picks went parabolics, now it is better, well tame advanced, no Hype, No Live post, and only 6 viewers in my diary. Or maybe it is just a bull market, were everything you touch goes up.