Update From Fresno

A friendly update from my parent's home in Fresno, where my father and I extracted a stump from their backyard (pictured on the right... notice the row of tomato plants in the buckets: BLT anyone? yum!). If you're wondering what removing a stump has to do with Trading, well... nothing. However, while I was there, my father (& partner) and I went through several Bear Rally Short setups together. He's been studying with the OnDemand courses and we took the opportunity for a meeting of the minds on some stocks.

We started with the results from a few Swing Module searches in Trade Seeker. We paired down the initial list of ~ 250 stocks to 32 that we think should be on our watchlist. Of those 32, it appears that about a dozen look like the current setup may work. As you can imagine, it took quite some time & effort to go through all those charts to check the setups. With some additional practice, I'm sure we'll get faster and fortunately we won't have to build up a watchlist from scratch, which certainly should expedite this process in the future. Now that I have a list of stocks that look like they have a nice setup, I'll spend some additional time analyzing the sector and take a peak at the Fundamentals in order to choose the best.

The market has seen a bit of a hickup in the normal ebb & flow due to the Fed announcement and the holiday, so I'll only paper trade a small part of my virtual cash; I plan to treat my virtual trading account exactly as I would my real money... Otherwise, how useful is it in preparing for actual trading?