The Performance of Stocks on My Watch List of October 30th
Two weeks ago, we had all the 9 major sectors trading below the 200 day sma (simple moving average) We also had an elevated risk in the market with 14 distribution days between $SPY and $NASDAQ. A lot of my readers commented that they were fed up and had lost patience with the market trading sideways and going nowhere. A disciplined trader continues to be engaged with the market, always has a Stock Watch List and a Trade Plan ready just in case the market decides to take a bullish turn. This is exactly what happened Monday morning to everyone's surprise. Rather than start looking for profitable opportunities on Monday morning, I had already identified 10 stocks that I was monitoring over the weekend of October 29th. (Reference my blog post of October 30th). Here are the results of the performance of those 10 stocks in the last two weeks:
- $AKAM - 6.38%
- $NFLX - 9.32%
- $BHI - 0.82%
- $PBR -18.02%
- $MA - 2.13%
- $FFIV + 4.82%
- $NOC + 8.37%
- $BAC +14.03%
- $GS + 15.13%
- $MS + 14.83%
The total profit for all 10 positions combined (5 losers and 5 winners) came to a whopping + 20.51% in two weeks. Some of you who know me from our local IBD (Investors Business Daily) meet up group in the Tampa Bay area know that I don't ever allow a loss of more than - 4%. Limiting losses to no more than -4% in the 3 losing positions ($AKAM, $NFLX, $PBR) would result in more than doubling the total profit to + 42.23% Lessons learned by readers are:
- Build your Stock Watch List every week.
- Have a Trade Plan for every stock on your watch list.
- Execute your trade according to your trade plan for LOSS or PROFIT exits defined in your trade plan.
Register for our 90 Minute Webinar on Saturday November 19th at 2:00 PM Eastern Time
If you would like to learn:
"How I Scan For Growth Stocks and How I Create a Trade Plan"
The session will be live and recordings made available for participants. The cost of the Webinar is $49.00.
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Happy Trading!
Amin
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