Welcome readers! This will be my first watch list post and I plan to make this a daily occurrence. I want to share with you what I am watching so you can learn to find similar plays yourself. I want to offer my readers value and this is just one of the ways I plan to do it. For some reason the text tool on FreeStockCharts.com isn’t letting me print the text on the chart, so these are not annotated. In the future I’ll leave notes on the graphs so you can easily see what I am seeing.

SBGI (Sinclair Broadcast Group) – LONG

As you can see there is a strong support line that has been set for many months. You can also see that it has set up a cup and handle patter and the handle is fully formed and has been hanging out around that $5.30 mark for a week or two now. Finally note the ascending trend line – or ascending triangle. All this stock needs is one strong day. The breakout is imminent. The first sign of significant resistance I see is around the $6.55 area where the stock consolidated for a few weeks.

BGC (General Cable Corp) – SHORT

BGC fell hard on Friday from it’s morning high of 30.78 to it’s low of 29.06.  Needless to say when a stock has dropped that far it’s usually due for a bounce.  Most stocks that fall that far, that fast, will correct at least in the short term.  If it does bounce it could find resistance around 29.40 and this is where I would look to go short.  If it does not  bounce, I would watch it and see what it does around the 28.80ish level as this is the next sign of resistance.  This may be a resting spot and once it beaks this level it could be a good short.

That’s all for tomorrow.  I am still trying to get the blog rolling and I don’t want to spend too much time doing watch lists.  I have a ton of work to do on the website.  In the future look for 3-5 trading ideas depending on the market and the time I have to create these posts.

Welcome!

First off I want to state that I am by no means a professional trader or a guru.  In fact I am just getting started in my day trading career and am the point where I am confident and will hopefully soon be profiting consistently..  What I plan to do with this blog is document not only my trades, but my journey to becoming a profitable, full-time trader.  If you follow along or are reading this post by looking through the archives you will essentially see my day to day goals and progress to success.  Again, I am not a pro and you should not take any of this advice as fact and should take it and research or test it yourself. I am not offering financial advice, only my take on the market and trade ideas.

With that out of the way this is what you’ll find on the blog from day to day.

Daily Trading Journal:
I will be keeping a daily trading journal in excel and I plan to post parts, if not all of it here on the blog.  This is for me to keep track of what I am doing and to give others an idea of what is possible.  I am not sure how specific I will be as of yet in the posting of these, but there will be some information provided into what I am doing.  I will make the decision when I get to that point.  The reason being I don’t want to brag or mislead my readers.  If you win big one day and lose bigger on another the one day really doesn’t mean much.  I will at least be posting my trades, and possibly some win/loss data.  My trades aren’t all that important to you – your trades are important to you.

Interesting Finance News:
I am constantly reading finance and stock news and intend to post commentary on interesting news articles I find around the media.  I will occasionally find an article I found useful, interesting or just plain crazy and post on it.  I will often analyze it and offer my opinion how the overall news may affect a certain sector or overall market.

Market Watches & Stock Picks:
Eventually I would like to offer market watches and stock tips to my readers.  I have my own personal lists now, but I am obviously not going to promote them until I can prove they are useful in my own trading.  Once I have established myself you can expect free stock picks/watches.  As with any financial advice – use at your own risk.

Tips For Newbies:
I have  a lot of interests and I’ve always found it hard to find a good resource for information to get started.  A goal I will eventually accomplish on the blog is to write a newbie guide to day trading.  It will be a series of posts of the steps I took to become a day trader and which ones I think are important to you through my experience.  I hope this to be a huge help for people new to trading.

Book Reviews:
One thing I’ve learned this far in day trading, investing – whatever, is that you never stop learning.  I personally love reading no matter the subject, but since starting my day trading journey I have read a ton of related books.  Each book I read I will review on the blog and give you a personal and honest recommendation.

That’s pretty much the structure of the blog.  I will add more as things progress, but that is my main focus and goal of the blog. I will kick things off tomorrow with some stocks that I am watching and updating the sections of the blog.

Happy trading,
Keith