Incredible day

Where do I start? Unrealized profit is a good place to start. Up another $942 or 29% in one day and that my friends is better than working Overtime!!! Next item that is good for me is that 5 of 7 stocks that I own are now protected with stop loss orders that cannot be sold for a negative. SBUX or Star Bucks earnings came in better than expected but not so much that I expect a big push in the morning, but I will get a little follow through as long as the overall market doesn’t tank. KOG, not so good earnings report and I expect that it will sell for a loss in the morning and if not, I will likely sell it and move the money to a better choice. PWE will report in the morning before the market opens and that will be last report for my current portfolio.

The S&P500 is on it and when I say on it, we are at the last bar of resistance. We closed at 1221 and my last line of resistance was 1219.53. What happens now? Normally when you break resistance or overhead resistance like we did today, it will just keep running uphill. But since we have been running in an uptrend since September 1, you have to be aware that things could reverse quickly and reverse hard. So from this point forward, we need to watch the daily closely and bail when she gives us two or three red flags in a row. We definitely want to bail if we get a 8 day crossing over the 21 day ma on the daily. For now we watch the run and take advantage of the gains. I have watched or read about people that have been shorting the S&P500 on every resistance line from 1040 to 1220 and they have had the lunch handed to them. I will never ever, ever, understand why anyone would trade against the trend. I do not care what the news is or what the talking heads are saying.

The Nasdaq and the Small Caps are absolutely killing it and both daily trends have broken into new territory. Even the Dow30 has broken into new territory for the year. My little bit of experience that I have compared to the professional is telling me things will reverse soon, but since I cannot predict the future, I will be long the market until it tells me to stop.

$0 realized profit today. November realized gain = $0.00 AVG = $0.00 a day. Personal goal = $50 a day.  4 of 21 trading days for October complete.

Unrealized and still holding: $4202

Year to date: ($2762.60)

Stock	Entry	Price	Stop	Profit	% Gain
FFIV	$100.5	$120.89	$112.56	$346	20
KOG	$4.27	$4.16	$4.03	$61	2.5
LVS	$37.59	$52.01	$46.13	$2739	38
PTEN	$19.70	$19.78	$18.77	$8	.4
PWE	$22.34	$23.85	$22.54	$151	7
SBUX	$28.53	$29.75	$28.86	73	4.2
SCCO	$39.72	$45.13	$41.40	$946	14

Earning Report Dates:

PWE – 11/5/10