Good morning,
What an interesting night to begin with. The markets were higher after the government said the US economy grew in the third quarter for the first time in more than a year. GDP was up 3.5%, better than expectations of 3.3%. I remembered reading a research article from a very prominent private bank just a few days ago that strongly believes US will underperform and forecasted the GDP to grow less than 3%. I have also mentioned in my previous blog that senior stock analysts always have differing views of the stock forecasted price movements. Who should we really believe?
It is not easy to be successful and make money consistently in stock trading. The only way to be successful is to work hard and do enough home work to analysis the companies of the stocks to buy. It is important to have a set of rules for stocks selection, entry and exit plan, money management policy and apply all these with determination and controlled emotion. Not easy isn’t it?
So my KUTE system is quite right so far for the week. The market did trade within range broadly. When DJIA was up 1.54% in the early trading session, PTEN was up 9.3% at $17.30. At this price, I took profit for 2 open positions for PTEN at 10% returns when the stock hit the limits I pre-ordered when I bought the shares. So I have betted correctly as mentioned yesterday with the macros and traded on PTEN’s beta. I still have 2 more open positions running in the money. The stock closed at $16.74, up 7.17%. CAH closed 1.38% higher to close at $28.69 and EIX up 0.56% to close at $32.12.
Have a good day.
Francies Cheng
BBus MAppliedFinance
What an interesting night to begin with. The markets were higher after the government said the US economy grew in the third quarter for the first time in more than a year. GDP was up 3.5%, better than expectations of 3.3%. I remembered reading a research article from a very prominent private bank just a few days ago that strongly believes US will underperform and forecasted the GDP to grow less than 3%. I have also mentioned in my previous blog that senior stock analysts always have differing views of the stock forecasted price movements. Who should we really believe?
It is not easy to be successful and make money consistently in stock trading. The only way to be successful is to work hard and do enough home work to analysis the companies of the stocks to buy. It is important to have a set of rules for stocks selection, entry and exit plan, money management policy and apply all these with determination and controlled emotion. Not easy isn’t it?
So my KUTE system is quite right so far for the week. The market did trade within range broadly. When DJIA was up 1.54% in the early trading session, PTEN was up 9.3% at $17.30. At this price, I took profit for 2 open positions for PTEN at 10% returns when the stock hit the limits I pre-ordered when I bought the shares. So I have betted correctly as mentioned yesterday with the macros and traded on PTEN’s beta. I still have 2 more open positions running in the money. The stock closed at $16.74, up 7.17%. CAH closed 1.38% higher to close at $28.69 and EIX up 0.56% to close at $32.12.
Have a good day.
Francies Cheng
BBus MAppliedFinance
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