Simple Trading Inspiration: Begin


“Begin with the end in mind”

— Stephen Covey

“But then stay in the moment until you get there.”

— The Trader



A Simple Trading Look At PIR As of 24 September 2015

PIR W As of 24 Sept 2015

Current Trend (W): Down

Abv/Below Value Zone: Below

Next Scheduled Report Date: Reported today 24 September 2015

52 Week High: $17.52 (6 February 2015)

52 Week Low: $8.52 (24 September 2015)

Current Relevant Resistance: $17.52 (26 January 2015 Lo)

Current Relevant Support: $8.52 (52 Week Lo) – Already lower at $8.10 AH.

Recent Close: $8.10

Comment: Pier One reported after the close today and fell an additional 6.5% after being down 2.47% for the day.  The result was not really a surprise in light of how the stock has traded over the last 2 years or so…  Anything is possible, but I would have no interest in buying the stock anywhere south of the $14 level.


The Trader



Simple Trading Inspiration: Pain


“Your pain is the breaking of the shell that encloses your understanding.”

— Khalil Gibran


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Simple Trading Update: BABA 21 September 2015

BABA W As of 21 Sept 2015

There’s a lot of talk about BABA especially in light of this recent Barron’s article and the company’s response.

I’ve written twice about the stock’s potential as a countertrend play here and here.  I suggested a break of the high of the low bar as a good entry signal with a tick below the low of the trigger bar as a stop.  That strategy would have already resulted in the election of at least 2 stops.

Currently, the stock looks predisposed to further downside.

At this point, I’m happy to accept those losses and leave the stock alone unless and until it can become positively structured.  That process will only begin with a comfortable close above the first line of resistance at $71.59 followed by a break of major resistance up around $76.39.  A break down through the rising trendline would validate the continuation pattern represented by the identified triangle and serve as proof that the path of least resistance is to the downside.

For what it’s worth.


The Trader



Simple Trading Inspiration: Decide

mountain rock climbing

“Decide what you want, decide what you are willing to exchange for it. Establish your priorities and go to work.”

— H.L. Hunt