INDICES
Nice day for both, but especially the NASDAQ, which followed through with a 1.22% rise in higher volume. Time to start hunting for new positions. NASDAQ NYA

HIGHLIGHTS
CBG - up 4% on lower volume.
RTSX - up 3% on lower volume.

LOWLIGHTS
MNTA- down 4% on lower volume.

NOTES
Amazing how markets can seemingly turn on a dime. Today we get a nice follow through which gives me the go ahead to look for new positions. Some people are attributing today's bullishness to so called "window dressing" by the professionals, but I am not really concerned about the whys. My plan is to keep an eye on the day to day action to see how it all plays out. Should be interesting regardless.

CURRENT HOLDINGS (longs)
ACAD, CBG, CONN, FOXH, HEP, HOS, IDIX, MNTA, NURO, PRPX, RTSX, TRW, VCC, WSSI

INDICES
NASDAQ down slightly on higher volume, NYA up slightly on higher volume. NASDAQ NYA

HIGHLIGHTS
CBG - up 6% on higher volume reclaiming the 50 dma.
HOS - up 3% on higher volume.

LOWLIGHTS
WSSI- down 10% on monstrous volume banging into the 50 dma. Might be headed for more downside.

NOTES
Well more of the same. Market in doldrums and waiting for a follow through on the NASDAQ. We have 2 more days in which to get it but I ain't holding my breath.

CURRENT HOLDINGS (longs)
ACAD, CBG, CONN, FOXH, HEP, HOS, IDIX, MNTA, NURO, PRPX, RTSX, TRW, VCC, WSSI

INDICES
No change in the action. NASDAQ down in higher volume, and NYA while up, was up in lower volume. NASDAQ NYA

HIGHLIGHTS
PRPX - up 5% in lower volume.
MNTA - up 3% in lower volume.

LOWLIGHTS
CONN - down 3% on lower volume. This one still looks to me like it has more work to do on the downside.

NOTES

CURRENT HOLDINGS (longs)
ACAD, CBG, CONN, FOXH, HEP, HOS, IDIX, MNTA, NURO, PRPX, RTSX, TRW, VCC, WSSI

INDICES
NASDAQ up .22% on lighter volume and the NYA up .5% on slightly higher volume. NASDAQ NYA

HIGHLIGHTS
CONN - up 8% on higher volume.
MNTA - up 5% on higher volume, for its highest close ever.

LOWLIGHTS
NONE

NOTES
Still waiting on the NASDAQ to follow through before entering any new positions. Three straight up days each on lesser volume than the last doesn't inspire much confidence, but who knows?

CURRENT HOLDINGS (longs)
ACAD, CBG, CONN, FOXH, HEP, HOS, IDIX, MNTA, NURO, PRPX, RTSX, TRW, VCC, WSSI

Found this great post on the Stock Bandit's blog.


Your trading success depends on you, not an indicator.

"...It is so easy in trading to want a “sure thing.” Often we tell ourselves that the next time we see the perfect trade, we’ll hit it hard and knock it out of the park. Perhaps you have searched for the perfect indicator or trading system which will virtually guarantee you profits if you will just stick with it. No doubt, we have all heard stories of other traders who claim to have found the “holy grail” of trading and fully expect to watch their account values skyrocket now that their search is over. However, the fact is that there are no sure things. Every trade has a risk associated with it. All profitable trades (even the home runs) started with a chance of losing money. We have no guarantee that our stocks will continue in the direction we want them to..."

INDICES
NASDAQ up a little on lower volume and the NYA down slightly in lower volume. So far, the recent rally attempt by the NASDAQ has been on much less conviction than the recent downslide. NASDAQ NYA

HIGHLIGHTS
CONN - up 3% on lighter volume, reclaiming the 50dma. Still, this one looks like it has some more work to do on the downside.
IDIX - up 6% on higher volume. Working on the right side of a base.
RTSX - up 4% on lighter volume. Finding support around its old highs.
TRW - up 3% on lighter volume. Reclaiming the 50dma.

LOWLIGHTS
NONE

NOTES
Still waiting on the NASDAQ to follow through before entering any new positions. Sorry about the lack of posts last week. I was on vacation and found it hard to get to the computer with enough time to do it.

CURRENT HOLDINGS (longs)
ACAD, CBG, CONN, FOXH, HEP, HOS, IDIX, MNTA, NURO, PRPX, RTSX, TRW, VCC, WSSI

INDICES
Both indices down on lower volume. NASDAQ bouncing downward off the 50 dma and taking out the low of its recent rally attempt. NASDAQ NYA

HIGHLIGHTS
HOS - gapping up and closing up 4% on higher volume.

LOWLIGHTS
RTSX - down 3% on slightly higher volume.

NOTES
With the nasdaq taking out its recent low, am back to waiting for a new rally to start before any new entries.

CURRENT HOLDINGS
ACAD, CBG, CONN, FOXH, HEP, HOS, IDIX, MNTA, NURO, PRPX, RTSX, TRW, VCC, WSSI

INDICES
Both indices up. The NASDAQ rallied right up to the 50 day. Volume increase due to options expiration. NASDAQ NYA

HIGHLIGHTS
None

LOWLIGHTS
None

NOTES
Waiting for follow-through on the indices.

CURRENT HOLDINGS
ACAD, CBG, CONN, FOXH, HEP, HOS, IDIX, MNTA, NURO, PRPX, RTSX, TRW, VCC, WSSI

INDICES
NASDAQ down slightly in higher volume, NYSE up slightly in higher volume. NASDAQ NYA

HIGHLIGHTS
RTSX - up over 4% for an all time high on higher volume.

LOWLIGHTS
MNTA - Down over 3% on higher volume.

NOTES
With the NASDAQ closing below the 50dma average for the second day in a row, I am again looking for a new rally to begin with a follow-through on day 4-7. Until that happens I won't be adding any new positions.

CURRENT HOLDINGS
ACAD, CBG, CONN, FOXH, HEP, HOS, IDIX, MNTA, NURO, PRPX, RTSX, TRW, VCC, WSSI

INDICES
NASDAQ down over one percent falling below the 50 dma. NYA basically flat. Both down in lower volume. NASDAQ NYA

HIGHLIGHTS
NURO - Up over 4% on higher volume.

LOWLIGHTS
None

NOTES
Not sure about this rally anymore. NASDAQ closing below the 50 day makes me wonder. If it closes below that line tomorrow I consider this one done.

FOXH announced a deal with Merck that sent FOXH it up 4% afterhours. We will see how it plays out tomorrow.

NURO rallied pretty well after coming close to the 50 day.

CURRENT HOLDINGS
ACAD, CBG, CONN, FOXH, HEP, HOS, IDIX, MNTA, NURO, PRPX, RTSX, TRW, VCC, WSSI

INDICES
Both indixes down less than 1% in higher volume. NASDAQ NYA

HIGHLIGHTS
None

LOWLIGHTS
None

NOTES
With the market in rally mode, I am looking to add new positions.

CURRENT HOLDINGS
ACAD, CBG, CONN, FOXH, HEP, HOS, IDIX, MNTA, NURO, PRPX, RTSX, TRW, VCC, WSSI

TRADING FLOOR SECRETS: The Psychology and Mistakes of Trading, Scott Kramer

"Everyone who trades will have losses. Period. That's why it is termed trading, and not profiting. Along with education, how you mentally prepare for the inevitable is what will determine your success in trading-or life, for that matter.

The difficult thing about losing trades is that they can drain people mentally, physically, emotionally and perhaps even spiritually. Maintaining the right frame of mind is key in getting past hurdles, as it is frustrating for even the most mechanical traders to admit that they made a mistake. After all, no one forced you to make the trade, so admitting that you are your own worst enemy can be very humbling. Even Sir Issac Newton (arguably the greatest mind history has seen, inventor of integral calculus, physicist, discoverer of gravity, philoso! pher, etc.) after losing his fortune in the South Sea Bubble of 1720, went on to state in embarrassment and self-deprecating modesty, “I can calculate the motions of heavenly bodies....But not the madness of people.”

INDICES
NASDAQ up in higher volume. NYSE down in lower volume. NASDAQ NYA

HIGHLIGHTS
MNTA -up nearly 6% on higher volume.
IDIX - up 3% on lower volume.
RTSX - up 10% on 3x volume. BREAKOUT!

LOWLIGHTS
HOS - down nearly 5% in higher volume.
NURO - down nearly 3% on lower volume.

NOTES
With the market in rally mode, I am looking to add new positions.

CURRENT HOLDINGS
ACAD, CBG, CONN, FOXH, HEP, HOS, IDIX, MNTA, NURO, PRPX, RTSX, TRW, VCC, WSSI

INDICES
Both up in higher volume. NASDAQ NYA.

HIGHLIGHTS
CONN - up 3% on higher volume.
FOXH - up 5% on higher volume.
RTSX - up 3% on 3x volume.

LOWLIGHTS
NURO - down 5% in higher volume.
TRW - down 3% on 2x volume.

NOTES
With the market in rally mode, I am looking to add new positions.

CURRENT HOLDINGS
ACAD, CBG, CONN, FOXH, HEP, HOS, IDIX, MNTA, NURO, PRPX, RTSX, TRW, VCC,

INDICES
Each down less than a half of a percent. Nasdaq in higher volume, NYSE in lower. NASDAQ NYA.

HIGHLIGHTS
ACAD - up 6%, on higher than average volume.
FOXH - up 4% on higher volume, reclaiming its 50 dma.
IDIX - up 3%.
RTSX - up 3% on lighter volume.

LOWLIGHTS
HOS - down 3% in lower volume.

NOTES
With the market in rally mode, I am looking to add new positions.

CURRENT HOLDINGS
ACAD, CBG, CONN, FOXH, HEP, HOS, IDIX, MNTA, NURO, PRPX, RTSX, TRW, VCC,

INDICES
Small up day on higher volume NASDAQ NYA.

HIGHLIGHTS
MNTA - up 6%, though on lighter than average volume.
TRW - up 3% on higher volume.

LOWLIGHTS
None.

NOTES
With the market in rally mode, I am looking to add new positions.

CURRENT HOLDINGS
ACAD, CBG, CONN, FOXH, HEP, HOS, IDIX, MNTA, NURO, PRPX, RTSX, TRW, VCC, WSSI

INDEXES
Follow-through on both indexes today with each up over 1% on higher volume. NASDAQ NYA

HIGHLIGHTS
PRPX - up 13% on 9 times average volume closing at an all-time high.

LOWLIGHTS
None

NOTES
With the follow-through in the indexes today, I will be looking to add new positions.

CURRENT HOLDINGS
ACAD, CBG, CONN, FOXH, HEP, HOS, IDIX, MNTA, NURO, PRPX, RTSX, TRW, VCC, WSSI

This is an old article from the end of 2004. Pretty simple stuff but that's the beauty of it imho.


"What investors should be doing is focusing on the action that is in front of them today. If you have winning stocks, then let them run. If you are starting to accumulate losses, then do some selling. The secret to market success, and you should tattoo this on the back of your hand so you never forget it, is portfolio or money management. Picking good stocks and making accurate predictions sure can help, but having a system in which you cut losses and take gains is the key to long-term success.

It is my strong belief that the vast majority of investors would improve their results if they simply developed some sort of strategy for selling laggard stocks in their portfolios. Unfortunately, individuals often have a very strong psychological resistance to admitting mistakes and selling losing stocks.

In addition, Wall Street strongly encourages individuals to keep putting more money into weak stocks. The phrase "buying opportunity" is a Wall Street favorite, but few realize how dangerous it is."

Interesting little article about the possibility of cracks in the housing bubble.

"When the new statistics on new home starts and pricing came out last week, the good news was overwhelming. Housing sales were up 6.5% "to break yet another record," reported WSJ.

So what did everybody miss? Namely, one small detail that tells more about the housing market than most statistics ... and very possibly is the first crack in this enormous real estate bubble. Get this:

The median price of a home fell in July by a whopping 7.2%"

INDEXES
Light day of consolidation on the indexes. Still waiting for the follow through.
NASDAQ NYA

HIGHLIGHTS
HEP - up over 4%, reclaiming its 50dma on above average volume

LOWLIGHTS
HOS - down over 4%, but on much lower volume than during its recent runup.

OTHER NOTES
MNTA looks like it has a date with its 50dma coming up. Should be interesting to see how it reacts.

Current Holdings:
ACAD, CBG, CONN, FOXH, HEP, HOS, IDIX, MNTA, NURO, PRPX, RTSX, TRW, VCC, WSSI

Not much excitement today on the indexes, both moving in ligher trade than yesterday.
I will continue to look for a follow through day over the next three trading sessions. If we get one, that is the cue to start looking for some new entries. In the meantime it's just a waiting game.

Current Holdings: ACAD, CBG, CONN, FOXH, HEP, HOS, IDIX, MNTA, NURO, PRPX, RTSX, TRW, VCC, WSSI