Dave’s Trading Diary Update – 22 April 2010

See the Trading Diary here: Added IRE and KIK.

I love the markets.  I love looking at charts.  And I love checking fundamentals.  Surely, there has to be that little touch of “loving what you do” if you are going to be successful at something – and if you don’t love it, find someone who does and get them to do it for you!

This week I’ve reached my personal limit for taking trades, being around 12- 18 positions, but found a few that I would have taken if I had some spare capital lying around.  Those two are IRE and KIK, and with both a lower risk of 1% from entry to stop would have been used. 

From an economic point of view, IRE has around 7 major shareholders and a 2 year EPS forecast growth of 19%.  Chart wise, it scored 3 wins from 3 over 8 years using Dow Theory on a weekly chart, average trade length 502 days.  However the reason for its inclusion is the consolidation at previous highs, which a breakout above would signal a buy on a daily chart. 

KIK has around 2 major shareholders and a 127% 2 year forecast EPS growth.  It also scored 3 wins from 3 using charting and trend line entries on a weekly chart, averaging a 28% return per trade over 4 years.

Heck, maybe I can find a little more capital to put in!

Sometimes you might not have a lot of time on your hands, but if you want your money to stick around it’s always good to do your due diligence and get the above figures.  Check out the free trading and investment course for more.

Also, great Australian Portfolio Manager Oliver Ward has updated the relative strength chart of sectors and stocks.  Find out which sectors and stocks are performing the strongest – check it out now!  Or get his updates directly here.

Hope your trading is going well,

Dave

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April 22, 2010  Tags: , , , , ,   Posted in: Dave's Trading Diary

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