UPDATE Trade: Short CVD Equity...winner

UPDATE 9-SEP-10:
Exited this position fully today just based on time in trade, and the need to free up capital for other opportunities, this thing hasn't moved much up or down but the 4hr has started to perk up on the 13 EMA...so that's good enough for me. Covered the 100 shares I had left for $39.

So let's see that's a total profit of $450...not a bad trade for a 1 month holding...still too long for such a "small" profit.

4hr chart:

UPDATE 12-AUG-10:
Trade trigger fired this morning with the rapid drop in CVD. This is now a free trade! Covered 100 shares for $39.68 this morning. Current Cost Basis is now $40.63. It is nice to not worry about loosing money anymore and to also have more buying power free.

6-AUG-10:
Went short 200 shares of CVD in the taxable account. Got filled at $41.59 per share. Stop is $43.41.

This has a massive move down already but it is officially an outside the band retest as of today.

I needed some short exposure and there isn't very much these days that isn't beat up to a pulp. CVD has terrible ratings and is in a terrible group. So I figure despite the move down, there may be further to fall for this puppy.

As always, I hope I am right. But I expect to be wrong.

Charts:

Daily:

4hr:

UPDATED Trade: Long ACOM via Equity

UPDATE
13-AUG-10: I tried to exit half the position in the morning but ACOM simply ran away to the stop. So, this indeed became a break even.

Charts:
Daily:

4hr:

12-AUG-10:
OK, so again I am in a dilemma that I have been in before. ACOM is now inside the bands, and violated on a %R basis on the daily chart. The same is true for shorter term charts like the 4hr. However, the 13 day EMA is still very much intact and my stop of $19.38 is well below the 13 day EMA which currently stands at $19.91. If it get out tomorrow morning I lock in a minimal profit, but a profit none-the-less. If I wait and see what happens at the 13 EMA (and this market) then I get a chance to increase my profits.

However, if I do wait to get stopped out, then I loose no money...but have also kissed a small gain goodbye.

I think I will be HOLDING on this one. If the market does fall apart (and I am not yet convinced it is doing that)...then I will get stopped out and I learned a lesson in discipline and following my original plan. However, the 13 EMA is really becoming a big part of my decision making process...So maybe ACOM will be the thing that tells me to finally make the 13 EMA part of my trading plan moving forward.

Let's see what happens.

9-AUG-10:
The 2 for 1 rule fired my trade trigger. So half the position has been taken off and it is now a free trade. Meaning I will not loose money on it. Yeay!
This reduces the cost basis to $19.38 per share instead of the original $20.

4-AUG-10:
Picked up a bunch of shares of ACOM this morning for $20 each due to the Retest outside of the bands yesterday. For those following along I apologize for not publishing the Outside the bands post yesterday I was very busy with other endeavors.

I went with shares because of recent experiences with illiquid options...ACOM is one of those things that trade just about 250k shares per day, so their options aren't very liquid. So equity it is. Position sizer gave me all these different sizes for all the different accounts.

Stop in all accounts is $19.38...Now don't you bastards take it there just to shake me out please.

The thing I like about ACOM is that it is a highly rated IBD stock, reported a great quarter, and it posted a 52 week high yesterday (the day it reversed for the retest). So to me this is a nice retest and the reversal yesterday probably took out some guys who jumped in on the breakout...nonetheless, I have a good stop and I hope this thing takes me to good places. The traditional technicals also look good, its a nice cup (with maybe a handle being formed with this retest...anyway fingers crossed.

Charts:

Daily:

4hr: