Greetings Everyone,
I have decided to post my trades on Collective2.com. For me, this will be the most efficient way for me to display my work. For the prospective subscriber, this is the best way to to verify my trade history.
Please click the links below:
www.collective2.com/go/dahar
www.collective2.com/go/dahfx
Monday January 26, 2009
As I was re-reading The Amazing Life of Jesse Livermore: World's Greatest Stock Trader, I once again noticed the large gaps of time between some of his best trades: 1906, 1907, 1910, 1915, 1916, 1920. Then page 192 sums it up nicely:
"Livermore always considered TIME as a real essential trading element. He often times would say: 'It's not the thinkin' that makes the money-it's the sitting' and waitin' that makes me the money.'
This has been incorrectly interpreted by many people to mean Livermore would buy a stock and then sit and wait for it to move. This is not so. There were many occasion where Livermore sat and waited in cash, holding little or no stock, until the right situation appeared. It was his ability to sit and wait patiently in cash until the 'perfect situation presented itself to him.' When these conditions came together, when as many of the odds as possible were in his favor, then and only then would he strike."
Be patient, the perfect situation has not presented itself.
"Livermore always considered TIME as a real essential trading element. He often times would say: 'It's not the thinkin' that makes the money-it's the sitting' and waitin' that makes me the money.'
This has been incorrectly interpreted by many people to mean Livermore would buy a stock and then sit and wait for it to move. This is not so. There were many occasion where Livermore sat and waited in cash, holding little or no stock, until the right situation appeared. It was his ability to sit and wait patiently in cash until the 'perfect situation presented itself to him.' When these conditions came together, when as many of the odds as possible were in his favor, then and only then would he strike."
Be patient, the perfect situation has not presented itself.
Friday January 23, 2008
At the end of 2008 the market was "scaring" people out. In 2009 it seems like the market is trying to "wear " people out! Rest assured that when the opportunity presents itself, we will buy (or sell!) only the best of the best stocks. Unfortunately now is not that time, so sit tight just as Edwin Lefevre said in the trading classic Reminiscences of a Stock Operator:
"It never was my thinking that made the big money for me. It always was my sitting."
Summary: Patience is the key
Market: Trying to rally
Sector: Schools
Stocks: ESI, CPLA, DV
Positions: None
"It never was my thinking that made the big money for me. It always was my sitting."
Summary: Patience is the key
Market: Trying to rally
Sector: Schools
Stocks: ESI, CPLA, DV
Positions: None
Thursday January 22, 2009
On Tuesday the Bank and Insurance sectors were some of the worst performing sectors. On Wednesday they were some of the top performing sectors! Call this market what you will: whipsaw or choppy. I say...
Summary: ...build your watch lists, wait for market confirmation and proper chart set ups.
Market: First day of attempted rally.
Sector: Schools
Stocks: ESI, NPK, BKR, CPLA, DV, EMS, CEPH, MYGN, MANT,
Positions: None
Summary: ...build your watch lists, wait for market confirmation and proper chart set ups.
Market: First day of attempted rally.
Sector: Schools
Stocks: ESI, NPK, BKR, CPLA, DV, EMS, CEPH, MYGN, MANT,
Positions: None
Wednesday January 21, 2009
Can the market go lower? Of course it can. But from a risk reward standpoint, I find it difficult to sell short at these levels. PNC, STT, VSEC ; nonetheless, were all down big yesterday.
Summary: Stay on the sidelines. If you must trade, trade small and to the short side.
Market: In Correction
Sectors (short): Finance related, insurance
Stock (short): AAPL, MA, BLK
Positions: None
Summary: Stay on the sidelines. If you must trade, trade small and to the short side.
Market: In Correction
Sectors (short): Finance related, insurance
Stock (short): AAPL, MA, BLK
Positions: None
Tuesday January 20, 2009
The headlines read: The global banking crisis is weighing heavily on the markets. Mexican mogul could become the largest shareholder in NYTimes. General Mills and Kroger pull peanut butter items. The Nation awaits a new president.
But no matter what the headlines read, always follow the charts.
Summary: Be patient and wait for the market to come to you.
Market: In a correction.
Sector: Schools
Stocks: AIPC, LOPE, LZR, MYRG, DL, APPL (short)
Positions: None.
But no matter what the headlines read, always follow the charts.
Summary: Be patient and wait for the market to come to you.
Market: In a correction.
Sector: Schools
Stocks: AIPC, LOPE, LZR, MYRG, DL, APPL (short)
Positions: None.
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