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US Momentum Trader Update
19 November 2007
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* This newsletter does not take into account each trader’s individual objectives, financial situation and needs. International Stock Report is not licensed to provide personal financial advice. Published trades are suggestions only and it is the ultimate responsibility of each individual investor to determine how they use this information. Past results are not necessarily indicative of future performance.
QQQQ - Nasdaq Tracking Stock - Daily Chart
Markets Pause
Last session we saw the QQQQ have an uncertain day which resulted in neither the bulls nor the bears taking control. The index did close up but did so in an unconvincing manner. On balance the bulls look ready to make a move on Monday, however, in the current market environment it cannot be certain.
With this in mind we will continue to have a balanced approach to our portfolio for Monday. We currently have two short trades open given our long trades did not trigger on Friday. We will look to enter two new long trades quickly to bring our portfolio back into balance.
Our portfolio did not do much last session. We opened BEAS and BBBY and both these trades remain in play. They are unchanged next session.
Two new trades today.
US Momentum Trader Portfolio Update
| Date | Symbol | CFD | Type | Trigger | Order | Target | Stop | Current | % | Comment |
|---|---|---|---|---|---|---|---|---|---|---|
| 16/11/07 | BBBY | Bed Bath | Short | 31.42 | 31.37 | 29.50 | 32.17 | 31.41 | 0.03% | Trade Unchanged |
| 16/11/07 | CMCSA | Comcast | Short | 19.57 | 19.54 | 18.00 | 20.29 | 19.89 | -1.64% | Trade Unchanged |
Model Portfolio New Trades
| ALTR 19/11/07 | |||
|---|---|---|---|
| Trigger | 19.11 | Stop | 18.66 |
| Order | 19.15 Long | Target | 25.00 |
| COST 19/11/07 | |||
|---|---|---|---|
| Trigger | 67.08 | Stop | 65.70 |
| Order | 67.18 Long | Target | 80.00 |
Trading Tips
The model portfolio contains a maximum of four trades open at any one time. Daily existing trade updates and adjustments are contained in the US Momentum Portfolio Update Table. These updates are an important part of controlling potential risk and should be observed.
New trades are valid for the day only and contain a trigger criteria that is required to be met prior to the order being activated. If a stock does not behave in a way to fulfill our entry criteria the trade is not entered.
Stops and targets that are hit should result in the immediate exit of the position. Stops are never moved backwards and are always obeyed.