Sunday, January 29, 2006

Watch list for week of 1-30-06

Here are the highlights from my market homework software:



I want to give a special thanks to Gorden Gekko at The Knight Trader for contributing to my survey of the most recent market rally. I try to keep the most relevant and tradable stocks on the radar of my market homework software, and Gekko's stock coverage when the market is rallying is perfect for it.

I've got a monster headache so I need to go to bed. To keep this short, instead of posting my usual Sunday night market commentary, check out a summary of the markets last week from my mentor over at the Market Stock Watch blog. I mentioned a few weeks ago that this is the best kind of market environment for our trading styles. Well, since January 1st 2006 my account is up 33%, mostly from building long positions in the stocks that I've posted about on this blog and riding the uptrend despite all the doom and gloom. January has been a great month for me, and I hope it comes across on the blog.

3 Comments:

At 7:23 AM, Blogger hortons768im said...

Jon:

i have seen this Ticker INCX on your website consistently for last 3 weeks, but the stock hasn't moved anywhere. what do you like about the company & what are your thoughts about the stock price appreciation in the upcoming weeks?

thanks & keep up the good work.

 
At 1:32 PM, Blogger Jim said...

TASR has helped your account this month hasn't it? Congrats on the success. I'm lagging at the 20% mark for the month. I finally picked up the Covel's Trend Following after seeing your post. I couldn't go without reading it anymore.

 
At 1:49 PM, Blogger jontait said...

horton: I'll make a post about why I'm watching INCX sometime this week.

Jim: TASR is up about 50% from where I bought it. I'm hoping for a high, tight flag to form, but it is a rare pattern so it probably won't happen.

One position that I don't think I posted about is KGC. It is a gold stock that I have pyramided into since it was $7 and change. It is now $11 in a couple of months.

I wouldn't call 20% gain in a month lagging lol! If I wasn't leveraged as much as I am, my returns for the month would be closer to that. Let me know what you think of Covel's book. I enjoyed the psychological mindset aspect of it the most, but there is a ton of great material in there. The edition I have is not the most recent revision, unfortunately. One thing I don't think I saw mentioned in the book but would be a good area for further study is that the longer your time horizon, the more highly correlated your returns will be to the instruments you are trading. I think I read that somewhere in the elite trader forums, and it makes a lot of intuitive sense. I'm looking forward to more material from Covel because his first book is a great primer for trend following.

 

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