Continuing the theme of posting some non-tech stock trades, here are a couple more. First up, UTX, which provided another nice trade after yesterday’s four-figure winner.
It doesn’t get much more textbook than this. Perfect setup, staying below the EMA the whole time, and a nice entry on volume and momentum. The exit came when that momentum dropped away to nothing, and we hit a logical target. $1300 banked in about fifteen minutes.
Next up, another non-techie stock — SFIX.
Trading to the long side this time, this was a little more tricky. There was a possible earlier entry but this was best avoided due to the lack of real momentum behind it. As it happens that entry would have worked out okay, but we can’t trade with hindsight, we can only follow the rules. So the second entry it was, with some real momentum to push it higher. The exit came when it turned, which was obvious from reading the tape (alas not always so obvious from the chart). Not a huge winner, bringing in $390, but not bad for about ten minutes.
Finally a tech stock, to remind us all that sectors don’t matter. This came late in the session when I’m normally starting to think about calling it a day. But there was a lot moving, and it’s a shame to miss out for the sake of an early lunch.
CRM was on my list for the day, so when it made its second move I was ready for it. There were two very obvious exit targets to aim for, and it blasted through the first without too much difficulty. The price didn’t quite manage the second, hesitating for a bit as it decided where to go next, so I was out. $1550 better off for the trade, and still done in time for lunch. In the end the price decided to go further, and anyone less lazy than myself could have had a pop at that third entry for potentially another thousand dollar profit on top.
Time again for a quick reminder that I don’t post all my trades on this blog, only a selection that are interesting for one reason or another. There were a ton of tech stock winners on the day that I haven’t posted here because they all look much the same. Hopefully this selection reiterates my point from yesterday that sectors don’t matter, only the chart does. There are winners — and losers — in every sector. All we have to do is find and trade them.