Friday, February 6, 2009

Trades for 2-6-09, and weekly total

I have decided to start posting a weekly (every friday) random video, interesting link/article, or my own take on the market on a daily chart. For this week I have a link to a site that has the unemployment rate going back to 1948. I find it encouraging that the unemployment rate is only hitting 1992 levels, but I’m still looking for it to peak at about 8%-10%. However, it would be most encouraging if the unemployment rate decelerates month over month going forward.

Click here for unemployment data going back to 1948.

Now for the numbers:
My total for the week (2-2-09 to 2-6-09) is (+.41%) or (+$99.15).

I’m glad to see the market going up even after an unemployment rate that wasn’t favorable. Today I decided to try going with the trend, which is something I haven’t done in a while. I exited my trade in DDM where I did because we closed below resistance, and had a tall wick on the 10M candle in the DJIA. I almost wish I had just ignored the rules, but I couldn’t. My original stopgain was $28.14 (+1.12%), but I would have likely taken profits at $28.08 (+.90%).

Click here for a video of today’s trades (be sure to click on “watch in HD”).

The total figure for “Discretionary trading” does not include my paper-trades.

Totals for the day
Discretionary trading: (+.40%) (+$109.84)
All times on the charts are Mountain Standard Time.

DDM – Long (+.40%) (+$109.84) My only real trade today


SDS – Long (-.72%) paper-trade


MA Trading: (+.82%) paper-trading

DDM – Long (+.82%) I tightened the stop at 2:36pmEST because the run looked like it was over


Gapers: (0%) paper-trading

No trades

10k strategy: (0%) paper-trading
All times on the charts are Eastern Standard Time.

No trades

3 comments:

ORION MACHINE said...

I think we could see unemployment as high as 10% or more. I know that sounds really high, but you have to realize the collapse hasn't even happened yet. Once it happens companies will be forced to lay off more and more as consumer spending breaks down. its a domino effect man. As we lose jobs, corporations lose income because there is less money to be spent on products if you don;t have a job. As corporations lose income they have to cut back even more, until only the wise and strong companies survive... JMO

StockHunter said...

I can somewhat agree with that (it makes sense), but you have to remember that the unemployment rate is a lagging indicator. Therefore things would turn around to the upside before the unemployment rate would improve. I guess we will just have too wait and see. This is the biggest reason why I love day-trading, you don’t have to worry about this kind of stuff over the long term. It just has to move one way or the other for you to make money :).

ORION MACHINE said...

Exactly bro, exactly. ALL HAIL DAYTRADING o7