ART OF TRADING Members Feedback!

stewie,

CHK   aug 20 puts 1.56  = profit +$1,404

LULU  Aug 55 calls @3.94  sold 6 @5.00  last 3 stopped out @5.30  profit +$1,000

DECK  Aug 45 @4.64  sold 6 @ 5.65 stopped out 3 @6.15  profit +$1,000 +/- commissions

I'm 53 years old and excited about trading again Stew!!!


Dennis 
(ART OF TRADING member still on FREE TRIAL. booked over $3,400 in profits in his first WEEK!!)  
 

Hey stewie...

...its been about 2 months since I joined your group. And I must say that its been a rewarding experience. Not just from a monetary standpoint, but more importantly, I can see myself look at the market differently- like I'm seeing things more clearly. I appreciate your leadership and guidance throughout the market day and look forward to participating and contributing to the extent that I can.

Take care. 

Rakesh  
(ART OF TRADING Member for over 2 months)

Hey Stewie,

I spent the better part of this week-end (so far) going through many of your videos.

I'm not a newbie to trading, and not to swell your head up to cartoon-like proportions, but your trading videos are loaded with fantastic content! So many well articulated examples of relevant trading processes and rules, using current market conditions all of which was laid out in a very succinct manner. Even the stuff I already knew was a great refresher or reminder for me. Hopefully others are taking the time to go through some of these posts, too. Especially in these current market conditions.

Anyway, there's some really great stuff in the site that you should really specifically direct new members to when they join. Once you get going, it doesn't take that much time to go through them, and if you take your trading seriously, it's time very well invested. 

Brian  
(ART OF TRADING member for 2 months)

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Charts To Watch This Week

My Short Term Trading Plan : SPY Read

Hi folks! 

Decided to go home 100% cash ahead of the close today and thankfully I did as it appears that AAPL earnings missed their targets. The stock is down $30 in after hours and bringing down all the index futures with it.

Index futures pointing to a gap down open tomorrow. On this down open, my goal is to be looking for "BOUNCE" plays in ETFs. As you will see from the attached SPY chart that we are getting into quite an OVERSOLD position now on the "60 minute Road Map" charts and hence a counter trend bounce is likely to be start very soon, imho.

 I also attached the NYMO chart which will show you that we are slowly but surely digging into the extreme 'OVERSOLD' that we have seen time and time again. Based on the NYMO chart, there is still more downside potential left however sometimes, THE MARKET HAS TO GO UP BEFORE IT COMES DOWN. Going into tomorrow, i'll be on the lookout for LONGS to play for a short term bounce. I would be looking to unload longs on any strength if we do see a 1-3 day bounce materialize and possibly even look to go short some stocks or ETFs on strength(if/when we do see it) as it sure feels like we could be in store for more downside in the days to follow. 

hope this helps. Trade em well! 

How To Fight Against "Failed Breakouts" ?

hey guys. 

Here's a great question: i got on the blog today: I thought is was important enough to share it. 

Hi Stewie

From the USG chart, a breakout of 20.25 should be bullish. However, when looking back at the one day chart after the fact, this stock did cross 20.25 but quickly reversed downwards. How should we prevent ourselves from being caught in the stock only to let it drop in price soon after. I think that this is one of the challenges that I face when trading - getting sucked into a failed breakout.

July 17, 2012 6:44 AM

traderstewie said...

that's a great question. My way of fighting "failed breakouts", or CHOPPY MARKETS basically. We need to look at overall MARKET CONDITIONS. Lately, market conditions have NOT been favorable for "clean" breakout trading. Most bullish charts that i watch for breakouts do end up working out as i expected BUT often times, there is LOTS OF whipsaws before the eventual move. So i personally, prefer to enter trades well ahead of the BREAKOUT numbers that i am watching. Because, this way i get into the trade early and then that gives me enough "cushion" to judge whether, the BREAKOUT IS FOR REAL or not. Obviously, sometimes, breakout will look for real, then FAIL. and sometimes, breakouts will look fake, but then move as expected the following DAY or maybe, after a fake reversal DOWN to take out stop losses at 'obvious locations'. All this is classic, low volume, choppy market behavior. When is see this sort of action, i immediately wanna do 3 THINGS:

1: that's to LOWER MY TRADING activity and only focus on what i think are A+ setups(sometimes you'll get em right, sometimes, you'll get em wrong but focus on A_+ setups, TRADE LESS).

2: I wanna enter these HIGH probability setups AHEAD of the breakouts. This gives me enough cushion to judge whether a breakout is working and riding a bigger trend(hopefully). if the breakout starts to act funny or suspicious, i typically wanna get out manually or via a RAISED STOP LOSS which is something i do often(sometimes i raise stops way too soon to be honest) but it's my inherent distrust for stocks that makes me do that. Lol! I know that the longer, stocks are held, the more likely, you are going to experience some sort of fuckery whether it be : analyst downgrades, Secondaries, earnings surprises etc etc.
in my book, the less you hold a stock, the better.

3: When the market chops or sees many failed breakouts(i see this often as a "tired market" or a market that is "topping out" in some ways), i typically, prefer to BOOK GAINS fast. obviously, often times, you will leave some profits on the table sometimes but in most cases, there is nothing wrong with LOOKING FOR A+ setups, timing a proper a entry and booking GAINS FAST when trends are not lasting. Lack of clear trends creates many failed moves, UP and DOWN.

I can go on and on on this topic. I encourage you to check out some videos i made on trades i normally take and how i play breakouts:http://artoftrading.net/trading-education

I hope this helps! cheers.

Stock Idea To Watch This Week : USG

Hey folks,

Playing USG as my first alert this week: entry at $20.17. Liking how it is setting up as it is starting to set up in a similar pattern as REXX last week. I included the REXX chart to show u the similarities. Will it play out like REXX?? NO guarantees in trading of course. But the setup looks quite bullish to me. It will require some patience for sure. Keep in mind, USG has over 25% short interest, that's a huge amount so it makes it a short squeeze candidate. Earnings are next week(july 25th) so i will NOT hold it into next week. 

I like it as a long anywhere near 20.00 to 20.25 area : stop loss at $19.45 : targeting 21.00

How To Spot and Trade Bottoming Patterns

This video discusses a trade we made at the Art Of Trading. A detailed "step-by-step" video on how i typically like to spot bottoming patterns in momentum stocks with very high short interest. 

ART OF TRADING Member Feedback 

Hi Stewie -

I've been using the STEWIE BOT for a little while now (about a month) and have been very happy with it thus far. I am heading out of town tomorrow to go on a cruise to Alaska with the family so you will not see me around the chat room for the next week or so. 

Thanks again for the great service Stew! - it is the best hands down IMHO and I look forward to being a member for a long time to come.

Bon voyage!

 Chad L. 

The education given by you and other talented traders that you have passed on, is truly top notch.

When ever I had a question or member needed help, you were always there.  World class, in my opinion.

 

Mike S. 

 

 

Just punched out of XHB at 21.20 Thought I'd book it, and not get greedy today.

Didn't follow your call on IBM, but only because I didn't really see it; even still, nicely spotted and called!

Two nice calls today, very well done! 

Brian C. 

Wow!!! How nice to come home from long day at track to gains in my Stewiebot account! Great job, thank you Stewie!!!!!

Best,

Lisa

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A Trade Idea In EBAY

hey folks.

Here's a decent setup that might be worth taking a closer look at.

EBAY info: http://www.marketwatch.com/investing/stock/EBAY/profile

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10 Best Stock ideas From The Twitter "Charts Requests" : PART 2

I asked my fellow twitter and Stocktwits followers to share with me their BEST Stock ideas based on "FUNDAMENTALS ONLY" and I will chart up my favorite 10 technical setups. I got many good ideas so i tried to narrow them down to my top 10 ideas.

Please remember, this is the market so what is 'good fundamentals' for one person might not work for someone else. Use the information here at your own discretion and remember these ideas are not in any way recommendations to buy or sell securities or investment advise. Do your own proper research and due diligence. 

As always: please check and double check earnings dates as earnings will severely affect the price of a stock. I never hold into earnings personally. 

http://www.marketwatch.com/investing/stock/arna

 http://www.marketwatch.com/investing/stock/bgs

http://www.marketwatch.com/investing/stock/ebay

http://www.marketwatch.com/investing/stock/eght

http://www.marketwatch.com/investing/stock/glng

 http://www.marketwatch.com/investing/stock/mmr

http://www.marketwatch.com/investing/stock/nct

http://www.marketwatch.com/investing/stock/swhc

 http://www.marketwatch.com/investing/stock/cstr

http://www.marketwatch.com/investing/stock/WMT/profile

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4 Fire Cracker Setups To Celebrate The 4th Of July

Happy 4th Of July!! 

10 Best Stock ideas From The Twitter "Charts Requests"

yesterday I asked my fellow twitter and Stocktwits followers to share with me their BEST Stock ideas based on "FUNDAMENTALS ONLY" and I will chart up my favorite 10 technical setups. I got many good ideas so i tried to narrow them down to my top 10 ideas.

Please remember, this is the market so what is 'good fundamentals' for one person might not work for someone else. Use the information here at your own discretion and remember these ideas are not in any way recommendations to buy or sell securities or investment advise. Do your own proper research and due diligence.

As always: please check and double check earnings dates as earnings will severely affect the price of a stock. I never hold into earnings personally. 

  

 XCO company info:  http://www.marketwatch.com/investing/stock/XCO/profile

 DIS: company info  http://www.marketwatch.com/investing/stock/dis

LF: company info : http://www.marketwatch.com/investing/stock/lf

CAT: company info: http://www.marketwatch.com/investing/stock/cat

YNDX: company info: http://www.marketwatch.com/investing/stock/yndx

MGAM: Company info : http://www.marketwatch.com/investing/stock/mgam

NBR: Copany info : http://www.marketwatch.com/investing/stock/nbr

 AMRN: Company info : http://www.marketwatch.com/investing/stock/amrn

 AAPL: company info: http://www.marketwatch.com/investing/stock/aapl

PCS: Company info : http://www.marketwatch.com/investing/stock/pcs



 if this post helps you or if you have any thoughts you want to share, please do so in the comments section below! 

 Enjoy and hope it helps!

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