The realized profit and loss of those two trades is -$170 while the unrealized P&L of my open positions is about $880 on Thursday’s close. Here are the stocks I’m currently long…
…and short.
BAC continued advancing (3.29%) towards the resistance level yesterday and this is my biggest winner until now with an unrealized profit of $200. I will be moving the stop loss up to the breakeven level for a risk-free trade.
Morgan Stanley is the second best performing stock of my portfolio with a similar daily chart. Again this will be a risk free trade when I move the stop loss up to the entry level.
One of the stocks I purchased yesterday was X stock. I am trusting the support level here to hold and I’m going to set the resistance level of the trading range as my profit target. The United States Steel Corporation saw an increase of their stock price on Thursday (4.42%) but I won’t be moving the stop loss until a new high is printed in relation to the entry bar ($20.06).
HERO is a stock I’m currently not to so proud to actually be short. A doji candlestick and long upper shadows of recent candlesticks confirming a resistance level (May 2012) weren’t enough to slow down the up trend. HERO stock gained 5.54% and although my stop loss wasn’t hit, I’m not going to be the… hero and will exit the trade as soon as $5.21 is printed on the daily chart.
I may have been trading HERO against the trend, but I considered the trend a friend when I went long DCT on Wednesday. The stock made a 50% pullback on September 27 that printed 8 (!!) consecutive falling candlesticks. I guess sellers would have lost power by now, but the 1.69% fall says otherwise. I’m not going to trade out at this point, allowing the stock to resume the up trend in the following days.
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