Portfolio of the week - 2008

[IIC]

I will take FXY long at the open...thx...Doug(IIC)

I'm changing my pick to SKF...Doug(IIC)

[skiracer]

I'm changing my pick to SKF...Doug(IIC)

Would that be long or short Doug?

[skiracer]

Looked at the rules. Don't worry, not in it to win any weeks. But would love to win the year!

Frank

I usually don't worry about anything but I'm glad you took a moment to look at the rules. It makes sense to do that beforehand. I guess you could win the year without coming in 1st in any particular week. That would be an amazing feat though to consistently finish in the top 4 or 5 every week. One of the reasons I changed the rules allowing more than 2 picks per week was to allow more of a chance to have a winning week. It's alot easier said than done. There are some very good and consistent traders here so it will be interesting to see how you stack up against them week after week. I'll hold off on my own opinions until I see how you do after playing a few weeks in a row. Good luck. Like everyone else you're going to need it. But certainly glad to have you on board and participating.
Always glad to have anyone post their picks and charts explaining the reasoning behind their setups and trades. So feel free to do so.

[IIC]

Would that be long or short Doug?

Long on the gap

[riverbabe]

ALU short at the open please.

[stenzrob]

WATG long, please.

[IIC]

My Ultrashort is dn over 5%...Think for the contest I'm dn about 15%

[jae16]

lol... I'm down over 50% today in the game! Awesome!

[jae16]

Hey ski how do gaps work at the open? Because technically you wouldn't be able to buy these stocks until open? So how do you judge those?

[Karel]

I don't mind at all that QMAR opened at 12.56

Regards,

Karel

[skiracer]

Hey ski how do gaps work at the open? Because technically you wouldn't be able to buy these stocks until open? So how do you judge those?

Whatever StockCharts states as the opening price is the price at the open. In your case MBI closed Friday at 8.55. It opened for whatever reasons this a.m. at 9.54. Your entry is at 9.54. The stock was selling for 11.85 a few minutes ago +3.30 so you are down 2.31 at the present or 24% with your short position. You have at a minimum 3 more trades left to you. Are you waiting for it to go lower or do you know something that we don't. It has dropped .25 or so farther since I started writing this post. I am a proponent of escaping at the lowest minimum damage and cost and without honoring and excersising reasonable stops this is what happens.
This presents a good case for the 7% stop loss on positions I have been talking about the last couple of days. At 7% you would only be down .67 to 8.87 or 7% and your loss would stop but you would be out of the position at a 7% max. loss.
It would make the decision for you and it's something that you should get used to doing anyway with short term swing trading where capital preservation and increasing and building on capital are the primary concerns.

[jae16]

Whatever StockCharts states as the opening price is the price at the open. In your case MBI closed Friday at 8.55. It opened for whatever reasons this a.m. at 9.54. Your entry is at 9.54. The stock was selling for 11.85 a few minutes ago +3.30 so you are down 2.31 at the present or 24% with your short position. You have at a minimum 3 more trades left to you. Are you waiting for it to go lower or do you know something that we don't. It has dropped .25 or so farther since I started writing this post. I am a proponent of escaping at the lowest minimum damage and cost and without honoring and excersising reasonable stops this is what happens.
This presents a good case for the 7% stop loss on positions I have been talking about the last couple of days. At 7% you would only be down .67 to 8.87 or 7% and your loss would stop but you would be out of the position at a 7% max. loss.
It would make the decision for you and it's something that you should get used to doing anyway with short term swing trading where capital preservation and increasing and building on capital are the primary concerns.

i figure i am dead in the water this week so... I don't know... tough to make up 30%...

i guess I will go long MBI now at 11.61... i knew this one was ultra risky... would have never played it in real life...

I need to start making some better plays in the POTW contest

[skiracer]

Nicely done, NB!

Short CTHR thanks, ski.

Spike,
The rules state that the pick has to be a min. of $2.00 at entry. Hope you see this before the close and get another pick in.

[billyjoe]

Ski,
Give me DOCX long thanks

---------billyjoe

[spikefader]

Spike,
The rules state that the pick has to be a min. of $2.00 at entry. Hope you see this before the close and get another pick in.

I'll attempt a timely entry tomorrow intraday, thanks Ski.