Posts Tagged ‘PCLN’

• Momentum Book Update
  Posted by Leigh Drogen on April 25th, 2010 at 10:44 am, Comments: 0

  I’m gonna keep this pretty short and just hit the major points.  I sold a lot of stock on Monday bringing my cash levels to over 60%.  This run has been quite amazing and large momentum moves often end with a bang.  Fundamental news often matches up with technicals at tops and bottoms, both intermediate [...]

• Momentum Book Update
  Posted by Leigh Drogen on April 17th, 2010 at 12:27 pm, Comments: 0

  It’s amazing, the inability of sellers to keep the market down into the close.  One of the main indicators I’ve been watching throughout this rally is the ability for sellers to close the market on the lows, and continue the selling into the next session.  It should be pretty obvious that this hasn’t taken place [...]

• Momentum Book Update
  Posted by Leigh Drogen on March 12th, 2010 at 4:24 pm, Comments: 0

  Dude, where’s my volatility… The market took the express train past the rally highs this week and provided yet another round of excellent swing trading to the long side.  While everyone was buying puts and inverse ETFs to protect profits from an organized pullback, the market marched higher, stopping them out one after another.  Are [...]

• Momentum Book Update
  Posted by Leigh Drogen on February 20th, 2010 at 4:54 pm, Comments: 0

  The market is one again trading above rising 20 and 50 day moving averages, a huge feat.  I had expected serious resistance up around the 20 day moving average which we blew through in short order.  Consolidation of this move is still warranted as we are in overbought territory short term.  The $SPY stochastics are reading [...]

• Major Day of Winship
  Posted by Leigh Drogen on February 18th, 2010 at 12:46 am, Comments: 0

  You won’t normally catch me doing two things, rooting for stocks (in either direction), or patting myself on the back for making good calls.  But….just as it’s always useful to slap yourself on the wrist for deviating from your trading plan, or making a bonehead mistake, reinforcing sound trading and good achievement is positive and [...]

• Momentum Book Update
  Posted by Leigh Drogen on February 13th, 2010 at 5:59 pm, Comments: 0

  It was a frustrating week for the bears.  Several times it seemed as if all it would take to tip us over the edge was a hand full of sell programs.  After the major hammer from last Friday it seems that the bears have run out of ammo for now.  On the swing time frames, [...]

• Momentum Book Update
  Posted by Leigh Drogen on February 6th, 2010 at 10:10 am, Comments: 0

  Wow, if Friday didn’t get your heart racing then you shouldn’t be a trader, that was a lot of fun.  We may have seen an intermediate term bottom put in yesterday as the big boys bought materials in size going into the close.  Let’s start with Monday though when it seemed we may have escaped [...]

• Momentum Book Update
  Posted by Leigh Drogen on January 30th, 2010 at 2:19 pm, Comments: 0

  Another week of schellacking for long only strategies.  The market took a bath this week, led by materials and tech, which until Thursday morning made up about 2/3 of my portfolio.  I was playing buy the dip, it obviously didn’t work.  My cash position at the open on Thursday was south of 5%, I loaded [...]

• Momentum Book Update
  Posted by Leigh Drogen on January 23rd, 2010 at 11:17 am, Comments: 0

  Oyyy, it was a tough week for long only strategies any way you cut it.  The market trapped the chasers with three major distribution days and then puked for two straight.  I made a calculated decision to lower my beta early in the week but didn’t significantly raise my cash level.  I still see many [...]

• Momentum Book Update
  Posted by Leigh Drogen on January 15th, 2010 at 5:48 pm, Comments: 0

  An interesting week it was indeed.  We came in on Monday to see the market ripping, it was frothy, and everyone knew it.  Problem was that few were willing to sell into the strength, myself included, for fear of missing out on a melt up move.  I hung on, took some pain, and added a [...]