This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

I closed a few trades today that I took from my NR7 scan lately. As always, Red is stop, Orange is entry, Green is target (if it ever comes into view–my targets are too optimistic!) Here they are:

CF Industries Holdings, Inc. (NYSE: CF)

CF flopped around my entry point, and I didn’t want to wait another day or so to get a 1R loss. I lowered my stop to the high of yesterday when it hadn’t proven itself correct by moving decidedly in my favor (like AGP did below–you can see that I gave it much more room than CF). It actually moved a bit more in my favor after I was out, but I need to rate my trading by whether the decision was good at the time, not by the outcome. My “Trade Grade” system, while tongue-in-cheek, is bad in that I’m rating my success by the profit or loss. I’ll probably change it so that I can earn top marks even with a 1R loss if I follow my plan. That’s the real grade of a trade.

Trade Summary:

CF Short 22 Shares
Entry: $40.23, Stop: $41.50, Target: $38.20
R: $27.94, Exit: $40.66
P/L: -0.34R, or ($9.46)

Trade Grade:

AMERIGROUP Corporation (NYSE: AGP)

Stopped out as I trailed the stop to protect the profit. I aggressively protected it to make sure that my May stays in the black. My win/loss rate for May stands at 57% / 43%, and my May Expectancy is only 0.15, so a few 1R losers could easily swing me to the red. I feel that I need to keep May a good month to protect my psyche after my last few months and the big mistakes I have made.

Trade Summary:

AGP Short 64 Shares
Entry: $26.78, Stop: $27.32, Target: $24.00
R: $34.56, Exit: $25.83
P/L: 1.76R, or $60.80 (At one point I was up $85, over 2R)

Trade Grade:

Also, VG spiked and DRL collapsed today, and both were recent NR7 picks. There’s some good stuff getting found, I’m just picking some of the wrong ones so far. Look for some more changes to the scan plan, or at least my trading tactics for how I manage the trades.

Stocks Mentioned In This Article
Stock	Links
CF	| |
AGP	| |

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

Here’s the watchlist for today: EPCT, HMA (looks bogus to me), AKAM, ANO, CF (from yesterday’s list as well), and MNST.

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

I posted my Stockfetcher code to a page under my Author Profile. I’ll keep my most recent version there, so anyone who cares can find it there.

Here’s the NR7’s for today, 5/8/2007:

HLIT, CHB, TRN, CF

I’ll be watching for the High / Low to be breached by the bid/ask spread plus two ticks, with a nearby support / resistance as the target.

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com