Still hot here! Tomorrow will top out over 100 degrees. Going to hit the beach on Saturday and hope to get into the cold North Atlantic ocean.
Tomorrow is Friday night and you know that means requests are honored for the big show; music, films, books, you name it but you have to submit a request in the comments or by email.
Action Review and Weekly Decisions
This week I was thinking about all the kinds of traders there are. You can do most anything from scalping a few pennies on a monster position in a liquid stock within seconds to holding a position for 10 years or more. Everyone has to find what works for them.
For most of my assets readers know I am a long term holder of things I think will move up long term. Minimal turnover and time spent managing those things, I like that for the most part. With my trading account I do like to pick spots and see if I can find winners, but the daily in and out is not possible time wise, so my basic set up is to find stocks I can play for about 4-7 days and then make a decision on whether to keep them or dump them. I call this kind of trading predictive trading where I am looking for a set move and set target area before it happens. Reactive trading to me is seeing something happening then piling on or riding the wave. Nothing wrong with that, but not my kind of fun.
This week I also did something not like my usual style, I got pretty nasty aggressive on a risky position. chessNwine had an interesting call in the 12631 on Friday about the semiconductor sector. Both the thesis and chart were attractive and when I thought more about it sector rotation into semi's made so much sense I was in. Best way to go bananas? Why the 3X leveraged bull semiconductor ETF SOXL of course! And with a large part of the trading account to boot. Lack of beer makes me more risk seeking I think, weird. I bought on Friday and I am still holding today. Up over 8% so far. Do not try this at home.
Added: Please note the charts tonight are not the same detail I like to present. I used the freestockcharts.com camera function but it compresses the charts so much. It's quicker than using the sniping tool, but the lack of detail even on the larger versions if you click them suck. Sorry about that.
Plays I made this week include a day loss of 3% on GPRO (poor headline killed the stock this week) and the following ideas:
I am still in ASYS for 0% move, this has to move tomorrow or I am dumping it.
I missed out on NI this week, you can't buy them all:
Looking to make some room for new ideas next week.
Ok, time for my first beer in 10 days!!!!!
Have a good night.