Sharp System 1-Trading Summary for 05/16/2008
System is doing well so far. I’ve been working hard on creating a toolset that can help me to go more like in an “automated” mode from here. I have built my own scanner using Excel and works like a charm. I’ve tried a number of backtesting applications in the past including Amibroker, Wealth-Lab, Tradestation, etc but nothing gives me the flexibility and development speed offered by Excel… just my opinion. Now, here are my SPS1 trades today.
Please note that this is not my discretionary method where I hold positions sometimes longer than 3 weeks, this is a system where I will hold for a maximum of 4-5 days as it capitalizes on depressed or oversold stocks. This system is not for the faint of heart and I have strict money management rules in place.
Closed Positions, -4.4%
| Entry Date | 13-May-08 | | Exit Date | 16-May-08 |
| Price | $19.98 | | Price | $19.13 |
| Initial Stop | $17.98 | | Gain % | -4.4% |
| Risk $ per Share | $2.04 | | # Days | 3 |
| Risk % Cost | 10.2% | ||
| Risk % Capital | 1.0% | ||
| Price Target | $21.98 | ||
| Expected % | 10.0% | ||
| Risk x Reward | 1.0 |
New Positions
Added to my JBX position after the subsequent drop today. Looking for a pop on Monday — would you cover it from here? I would.
| Long Entry | JBX | (JBX) JACK IN THE BOX INC | ||||
| Entry Price | 16-May-08 | Industry: Restaurants | ||||
| Price | $23.56 | Jack in the Box Inc. owns, operates, and franchises Jack in the Box quick-service restaurants and Qdoba Mexican Grill (Qdoba) fast-casual restaurants in 42 states. The Company also operates a chain of convenience stores called Quick Stuff, with 60 locations, each built adjacent to a full-size Jack in the Box restaurant and including a fuel station. As of September 30, 2007, the Jack in the Box system included 2,132 restaurants in 17 states, of wh…read more on Y! Finance | ||||
| Initial Stop | $21.20 | |||||
| Risk $ per Share | $2.41 | |||||
| Risk % Cost | 10.2% | |||||
| Risk % Capital | 1.0% | |||||
| Price Target | $24.40 | |||||
| Expected % | 3.6% | |||||
| Risk x Reward | 0.3 | |||||
| Long Entry | WFMI | (WFMI) WHOLE FOODS MARKET INC | ||||
| Entry Price | 16-May-08 | Industry: Grocery Stores | ||||
| Price | $29.08 | Whole Foods Market, Inc. (Whole Foods Market) owns and operates a chain of natural and organic foods supermarket. As of September 30, 2007, the Company operated 276 stores organized into 11 geographic operating regions, 263 stores in 37 United States of America states and the District of Columbia; seven stores in Canada, and six stores in the United Kingdom. This includes 74 stores acquired from Wild Oats Markets, Inc. (Wild Oats) on August 28, 2…read more on Y! Finance | ||||
| Initial Stop | $26.17 | |||||
| Risk $ per Share | $2.96 | |||||
| Risk % Cost | 10.2% | |||||
| Risk % Capital | 1.2% | |||||
| Price Target | $28.79 | |||||
| Expected % | -1.0% | |||||
| Risk x Reward | - 0.1 | |||||
Open Positions
Open positions did well today, Positive Gains: OMG +3.6%, PAC +1.7%.
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