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Kennys Stock Market Trading - The Week Ahead 05 Jun
June 04, 2011

Issue# 0020 05 June 2011

Stock Market Trading

Traders Day Trading & Kenny's Elliott Waves Blog

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Stock Market Trading at Traders Day Trading

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Welcome to Stock Market Trading the new look newsletter for 2011 from Traders Day Trading & Kenny's Elliott Waves Blog.


S&P 500 Cash Index - The Week Ahead

The Week That Was...
Last week, I was not entirely convinced by the break higher and suspected that it would turn lower again due to the longer term technical analysis.....

I decided to trade it very aggressively which as it turned out, was exactly the right thing to do but unfortunately the long term stops were tripped in premarket trading by only a couple of points before it resumed the expected down trend.

Over all, the entire campaign came out with a small profit as the 2 profitable trades offset the losses on last weeks trade entries. However, I did make a serious mistake in lowering the stops so far on those 2 trades.....the optimum stop loss level was at the level of the second entry and is where the stops should have remained.

I did lower the stops for money management purposes due to the preferred wave count, but ultimately they were in the wrong place.

The result is that instead of the long term campaign carrying around the 160 points of profit that it should have been at this point, for the sake of a few points, it stopped out at exactly the wrong time.   

The Week Ahead...
Since last weeks price action took us out of all trades, it is with regret, but I have decided to put this weekly newsletter on ice for a while. 

As you know, much as I love producing it, I do it as a hobby and distribute it completely free. However, bringing it to you, does incur costs, especially the cost in time commitment required to produce it.

Last weeks request for donations to help keep it free had a zero response and I do not want to introduce charges, as the administration of that in turn then adds to the time commitment required.

I will still produce the newsletter but it will only be as time permits and probably only once a month or so.

I want to spend the time developing the website further instead. I will reintroduce the weekly newsletter at some point in the future, but I have so much more content that I want to produce for the website that I have decided to focus on that for a while.

Meantime, I will still be regularly updating the analysis on my blog so please do check in there. If you would like email notifications of new blog posts with my analysis, please register at the blog to join the mailing list for that.

Thank you for subscribing to Stock Market Trading and I hope that you have found it useful. Please do remain subscribed to ensure that you recieve any new issues and are notified directly when I resume distributing the weekly analysis.


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