Stock Trading

Friday Night Notes: March 13, 2015

Retail Traders — whatsup???

Welcome to Friday Night Notes with yours truly.  Here I discuss my trading week and how I currently see the market.   If you want more info you can Follow Me on Twitter or Like Me on Facebook.  If you want to learn more about how I trade, check out The Beginner’s Guide to Breakouts and this quick blog post which details my process.

With that said, let’s move on…

Trading Notes: I closed out LLNW for a great gain of +18% — but then it kept going without me and yeah, that made me mad. I opened up OXGN and watched it go nowhere and then closed OXGN for a small loss of -4%. Then I opened up GPRO in a pretty risky place and have watched it trade back and forth.

Anyway — that’s me.  Hope you rocked it!  Let’s move onto the markets.

Market Notes:  As always, I’m tracking the IWM, which is the ETF that follows the Russell 2000 Small Cap Index.  As I trade volatile stocks below $5, that’s the one I keep an eye on.

And here are the charts…

Hourly Chart

iwm hourly 313

Notes:  Flat, flat, flat — that’s what I see here.  Well, maybe not flat, but definitely back and forth.  For a trend trader like me — this is the worst type of market.

Daily Chart

iwm daily 0313

Notes:  Once again the market fooled everyone in the world — including me — with another strong bounce off the 50 day moving average.  Will we see new highs?  i kind of hope so — just because that will freak everyone out — and I love when everyone freaks out.I know, I’m so mean.

Weekly Chart

iwm weekly

Notes:  So close to new highs.  Maybe one day this market will crack lower — but we have to wait for it to happen. Well, I guess we don’t have to wait, but picking tops is a dangerous game, believe me.

Trend Overview

  • Hourly: UP/SIDEWAYS
  • Daily:  UP
  • Weekly:  UP

Good luck out there everyone!

Trend Trading Vs. Counter Trend Trading, Which One Is Better?
How The Biggest Retail Traders Got Rich
Trade Pocket Pivots Like an O’Neil Disciple
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