Robert Weinstein Trading Blog

Last day of short hours trading as I will be back in my office on Monday.

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Another day and another line stood in at Disney.  Actually thats not totally correct.  I stood in many lines.

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Hi, Bob.
Nice numbers lately.  Just a quick Q.
Just wondering if you used many of DeMark’s indicators in your trading.
I agree that market making is the way to go.  It is what my API is based on, but it has been so slow lately, I thought I’d look into other areas.
Good trading.  Jeff

Hello Jeff,

Thanks for the kind words.  Like so many I used the ideas and concepts of Tom DeMark to provide a new way at looking at the market.  So many look to buy value when prices are low or short when they think prices are overvalued.  Others use trend following to find their entries.

Any method has the possibility to be profitable if done right.  I have taken the concept of overbought and put it into a formula that a computer can scan for and alert me when the result is TRUE.  Basically its a mechanical trading system.

I don’t actually use any of his indicators and feel that right out of the book they are not effective.  They need to be adjusted to work (I do think they can work).  I also think that by spending the time with Tom  Demark’s books will greatly improve your trading and give you new ways at looking at the market.  Mr. DeMark is also from Wisconsin so he can’t be all bad either  : o )

Midweek and I am still trading short days as I spend this week looking at Disney from the customer experience.

On a side note today was the breaking point for my wife.  She has now grown tired of hurrying up and waiting.  Especially the Disney way.

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Another day at Disney and another day of hurry up and wait the Disney way.

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Today I am trading in Orlando Florida as I am doing a location evaluation of DIS (Disney World).

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GFI

HMY

AU

ABX

All four are gave off 6b warnings and GFI and HMY had 6b signals

IDCC, ESI, and SQNM still on the list

The day started out really nice. GE earnings came out around what everyone expected and I saw pre-market trades above 14.  That didn’t last long and GE started back down the hill.  By the end of the day we could see trades going off at under 12 per share.  I feel that GE is a stupid low prices and that to sell this stock which currently is like a never ending AAA rated option just does not make sense.  Even with a dividend cut it just not make sense to bail out at this point.  GE is priced like a stock with negative PE and no dividend. At the end of the day I started to sell Feb $9 puts.  I was able to get two sold at .31ea

APOL fell off the cliff today.  Down about 4% for a loss of 3.43.  That put my covered short in the money and I will be looking for an exit at some point.  The goal of this trade is to let time eat away at the option premium and to have the price of the stock at or below 85.  As I am using a new signal that was developed over the last few months I am very happy with the third trade with this signal.  It will be interesting to see how many trades in a row traded with this signal before it has a loss.

NEM H-  Only trade of the day.  Looks like the gold bugs were out today in full force as several other gold stocks came close to giving over bought signals. NEM was scalped and traded for a nice gain based on the few shares I actually traded. + 966

+966 Day

+ 9394 Week

+ 14907 Month

7200 Shares

322400 Shares / Mth

I will be going with the family to Disney in Florida on Saturday and its my sons birthday so I plan on leaving the office early on Friday.  Not sure what time as it will depend on how the day goes but I may not have the updates for my trading done until late Friday or maybe not until Sunday or Monday.

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Today started out with scalping APOL.  ESI another educational stock reported better than expected and gave guidence that was better than expected.  This gapped up ESI and moved APOL to much higher ground but not without moving all over the place.  I went on to trade it throughout the day which I made some gains with as well as raised my average cost for my swing short.  At the end of the trading I  stayed with the covered short swing trade at the same  400 shares at a new ave of 88.77 and a short put at 85. + 460

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