Well, it’s hard to make or lose money when you have no positions. Despite having over 50 stocks in each of my bullish and bearish watchlists, I haven’t seen any buy signals recently. The few stocks that have shown a bounce off a trendline with confirmation from the MACD and stochastics still weren’t buy signals because they have earnings coming up soon.
Earnings season is always very difficult for me. I try to avoid earnings because it’s very difficult to predict what a stock will do after earnings, and I’m not trying to gamble on big moves right now. Ideally, I’d like to come up with a strategy that I can use around trading time, otherwise I’m going to be practically shut out of the market for about 4 months out of the year. For now, though, I am going to stick with my trading plan and only take trades that meet my criteria.
Week ending 12/21/2007
December 21, 2007 — SaeedWell, it’s hard to make or lose money when you have no positions. Despite having over 50 stocks in each of my bullish and bearish watchlists, I haven’t seen any buy signals recently. The few stocks that have shown a bounce off a trendline with confirmation from the MACD and stochastics still weren’t buy signals because they have earnings coming up soon.
Earnings season is always very difficult for me. I try to avoid earnings because it’s very difficult to predict what a stock will do after earnings, and I’m not trying to gamble on big moves right now. Ideally, I’d like to come up with a strategy that I can use around trading time, otherwise I’m going to be practically shut out of the market for about 4 months out of the year. For now, though, I am going to stick with my trading plan and only take trades that meet my criteria.