$BIDU Stopped Out $study

- Entered the day short $BIDU as per yesterday´s blog entry:  http://jpotrading.blogspot.com/2011/01/bidu-not-good-tradefor-now-study.html
-Put in a buy-stop at 100.52 and it was quickly triggered at 9:31 for a loss.

-Thoughts: Will wait to see if it fails test of the 20 SMA and recent highs at 102.00. Also, this 50 billion facebook valuation might be helping  all things internet.

$RL Work needed on your exit points. $study

- Yesterday went short given a downgrade in $TIF and $COH ( http://www.marketwatch.com/story/coach-tiffany-others-cut-at-jefferies-2011-01-03?siteid=yhoof2 ) and how these two were behaving; I thought $RL was bound to follow. Ended the day at break-even and almost covered.

-This morning Citigroup upgraded the stock and I thought would short it if up about 2% since that was my guess as to the max. the upgrade was worth. I wrote on my journal "naive averaging? bad risk management?" Well, thankfully I did not listen to my doubts.

-Thoughts : again like in the previous post (http://jpotrading.blogspot.com/2011/01/sbux-good-trade-should-have-been-better.html) a lot of money was left on the table. Again a simple trailing stop would have made it a much more profitable trade. Must work on this. Particularly since COH and TIF were cratering and this was your basic premise to enter the trade in the first place.





$SBUX Good trade. Should have been better. $study

- Entered the day with a short position at 33.25 . Reasons for it explained in another earlier post.
   http://jpotrading.blogspot.com/2011/01/bbby-and-sbux-betting-resistance-would.html
-Everything going according to yesterday´s thesis , and when there was a pullback from the downtrend I shorted some more at 33.02 (10:25) .
-Covered position at 32.71 (12:04) .

- Thoughts: only problem was the exit. Could/Should better plan the exit with trailing stop. Quickly looking at the chart, a good cost/reward trailing stop seemed possible; stock still went in a clear downtrend from my exit.

$BBBY and $SBUX ; Betting Resistance Would Hold. $study

  

-I had it that the level 50.10 was resistance for BBBY. This level emanated from the earnings report (23rd December) and the behavior on that day and the following days (http://jpotrading.blogspot.com/2010/12/importance-of-opening-level-in-gaps-ccl.html).

-So as shown in the chart I shorted at around that level with a stop at 50.55 that was almost taken out. Fortunately it was not and the trade was profitable. 
 
 



-With SBUX I again bet that a resistance level would hold. The level was (is) 33.15 from the charts. The position is at break-even and I held it overnight.

-Thoughts: By the time it reached my resistance level it was up close to 4% with no news, so that made me comfortable. Today must be careful since with a strong market it looks poised to break that 33.15 level convincingly.