4-6-15 Trading Strategy
4/2/15 – DGAZ (Inverse Natural Gas) @ $7.50
Stocks on the Watch for 4-6-15
Here is my Stocks on the Watch video and write-up on what I’m looking at next week.
YINN (China) Sold @ $44.90 for a 9.51% gain
DGAZ (Inverse Natural Gas) Filled @ $7.50
– Fairly bullish day Thursday for all the international markets while the US and Gold took on the bears. However, most of these markets had been trending down, so many could have been taking profits due to the 3-day trading weekend.
My fill in DGAZ could have been better, but the 11.98% move, when the average is only 7.35% makes me feel I took the wrong side of this trade. The timing couldn’t have been any worse.
Current Holdings with Open Orders for 4/6/15
Sell DGAZ (Inverse Natural Gas) Limit @ $8.50 (13.33% Profit)
Sell DGAZ (Inverse Natural Gas) Stop @ $6.80 (9.33% Profit)
– I do not like the price action that I saw on Thursday. An opening gap down, with a much lower low for the day. DGAZ closed 11.79% lower which is far above it’s daily trading range of 7.66%. It appears I fell for another fake-out. Because this ETF can move very fast, I have to put in a stop. My stop will be for half the 7.33% daily trading range, just to give it a bit more room on the open with the hope it reverses tomorrow in my favor.
New Open Orders for 4/6/15
Order Cancels Order
Buy RUSL (Russia) Stop @ $27.05
Buy RUSL (Russia) Limit @ $25.75
– RUSL has already gapped up twice. It’s doing so on higher and higher volume as well. Puttin in a stop buy order to get in if it gaps up in the morning and putting in a limit order of 50% the daily trading range of $1.97 if we get a drop to get in at a better price
- Classic triangle consolidation breakout pattern
- PPO has been positive the past couple of days
- Price has broken away from the 20-50 day EMA
- Gaps up out of a triangle are a solid bullish sign
Buy INDL (India) Limit @ $99.60
– INDL had a bearish fake-out last week and has quickly reversed. Even if this is a sideways consolidation, the next stop level is around $109.00 which is plenty of room for a decent profit.