Eric Hazen

January 23, 2012 Earnings

admin — Tue, 24 Jan 2012 04:30:23 +0000

I spent 13 minutes in the market and took the rest of the day off. Here were my results:
Total Trades: 9
Winners: 8
Losers: 1
Gross Revenue: $1365.50
Losses: $19.50
Commissions: $58

Net Profit: $1288

Current general market conditions tend to be bullish and now is a good time for your money to be working for you.

Day Trading Results for January 20, 2012

admin — Fri, 20 Jan 2012 23:52:23 +0000

I was going to write a quick post the other day that I joined a trading program http://www.followtumblertrades.com. After reading the basics of his program I decided to start paper trading the system, here are the results thus far. The 18th and 19th I spent 2 hours on the computer. Today I spent 6 hours and hit my profit target of $2000. Thus far day trading has proven to be profitable for me; I’ll keep paper trading for the next three months and then based on results move in with cash.

Date	Wins $$$	Losers $$$	Commissions	Net	Trades	Winners	Losers	B/E	Winning
1/18/2012	– - -	– - -	– - -	$ 884.50	20	- – -	- – -	- – -	- – -
1/19/2012	$ 1,246.00	$ 365.00	$ 58.00	$ 823.00	8	5	3	0	63%
1/20/2012	$ 4,611.00	$ 1,980.00	$ 557.00	$ 2,074.00	82	45	32	5	55%

Mouse Traps

admin — Sun, 15 Jan 2012 16:29:23 +0000

For the past three months I’ve spent countless hours reading books, blogs, subscription websites, etc. trying to find a system that related to me. After months of review I found a few that showed real promise. Several of the system if implemented correctly could return between 30-90% a year. This was good but a major problem was they all were at the mercy of the general market direction.

Was there anything better? Well I came across a link on Stockbee’s site that said “Trade like Tumbler” Who is Tumbler? After spending some time on Tumbler’s site I started reading some of his archived data. He’s a day trade with an amazing record and a very sound system. Last year he made 459% and by January 13th he’s already at 23%.

What does he do for these kind of returns? I mean isn’t day trading risky? Not according to him, he sells on strength and doesn’t feel that he needs to milk every last dime out of a trade. It’s more a build a house one brick at a time model and by the end of the week you have a wall. Different from most of the other systems I’ve looked at for sure.

So I’m doing it, I’m abandoning my previous preconceptions and I’ve joined his site. I’ll paper trade the system for one year and then depending on my own personal results go in with actual money. Check out his site http://followtumblertrades.com/

Nasdaq High / Low

admin — Thu, 12 Jan 2012 17:46:03 +0000

Time to trade? Swing trades are now making a profit as we start into earning season. I’m keeping my account 100% in cash as most of the moving stocks have been junk. A lot of buying at the bottom and very little at the top, when leaders are failing it’s time to be cautious. Still there is money to be made and if you don’t mind a little risk and play the 52 week lows you can probably make some right now.

Where I’ve been

admin — Thu, 12 Jan 2012 17:40:07 +0000

November 2010: Decided to eat healthy, started eating raw healthy foods.

December 2010: Decided it was time to kick the 23k debt (Student loans) & started Dave Ramsey

May 2011: Was let go from GBCblue; stress level dropped significantly.

June 2011: Job offer from ITT Systems for great job in Kuwait, turned down so I could stay with family.

July – August 2011: Having a great time reconnecting with my hobbies and friends. Taking part time work and looking for full time job.

August 2011: Working at Frontier Communication as Video Network Engineer. New tech, new friends, more fun.

October 2011: Start getting excited about getting out of debt. Start reading investing books and decide that the stock market sounds like a good long term investment vehicle.

November 2011 – December 2011: Read around a dozen investment books (Value, Growth, Swing, Momentum, and Position trading)

January 2012: Feeling really good about momentum swing trading IBD top 300 stocks. Find day trading, seeing new future in my horizon?

Investment Ideas

admin — Mon, 02 Jan 2012 15:55:39 +0000

Here are three investment ideas DG, DLTR, and QCOR. All three are working on a base and if the market warms up they should do quite well. There are two approaches you can take to these investment. First since they’ve already done so well you can buy above their last resistance levels ( 25 cents above Stop Loss list bellow). If you are uncertain about the market you can also wait for them to reach a new high, this would be the safer approach. However, I’m quite bullish on DG so I’m waiting to see the first sign of a reversal and that’ll be my investment point. If these stocks breakdown bellow their stop loss, I’m staying out of the market until they form a new higher base.

Dollar General (DG): Stop Loss: $38.60
Dollar Tree (DLTR) : Stop Loss: $80.15
Questcor (QCOR) : Stop Loss: $39.15

Is gold still worth it’s weight?

admin — Thu, 29 Dec 2011 17:06:22 +0000

Does the gold bug still have you? It’s down about $400 dollars since it’s high earlier this year. Hindsight is always clear but if you look at the gold index you can see there were topping signals very similar to those in stocks (Review the chart). Currently gold looks to be broken but it has found mixed support at it’s 50 day moving average. If you are still believe in gold watch to see if it makes another significant drop, if so it could be looking for it’s 200 day moving average around $1200. If it continues to drops take your profits and look for a new base of consolidation to go long again.

12/29/2011 – Nasdaq New Highs / New Lows

admin — Thu, 29 Dec 2011 16:45:49 +0000

Major indexes are up today in light trading, it appears that yesterday’s distribution hasn’t destroyed the Santa Claus rally yet. Wall Street seems to be lacking conviction and we are going to have a hard time breaking out past the 50 day moving average. Since the long term path of least resistance is still sideways I’m waiting before I enter.

An interesting stock I ran across today was SWHC, I’m thinking it could be a great one to swing on.

Nasdaq New High / New Low 12/29/2011

Primary market indicator suggest the safest place is still in cash.

Market Timing New Highs / New Lows

admin — Thu, 22 Dec 2011 22:00:24 +0000

On December 20th IBD posted in their Big Picture that the market was in a confirmed uptrend.

IBD also noted that investors should proceed with caution since several leaders had broken down with this uptrend. Additionally the market has been trading sideways for such an extended period of time that it’s likely to find some resistance.

Two days later here is IBD’s big picture.

The market has historically had low volume around the holiday season and there is no difference with this one. However, with such light volume if institutions come back in they could easily destroy the small profits the market has cut out.

So will this uptrend be the one to pull us out of this sideways market? I certainly hope so but other indicators haven’t confirmed IBD’s uptrend yet so the safest place is still in cash.

So what other indicators are good to use? Stockcharts.com $NAHL index has accurately captured large up trends and down trends. This indicator would have kept you out over the last few months sideways move and it’s my primary indicator.

New Highs / New Lows 12/22/2011

As long as the moving average (1) says bellow the exponential moving average (10) the best place to be is in cash.