Another Alsi 40 trade and market run

What a great day on the JSE!!

(I have neglected to post for a week and I owe my apologies. I'm working on a personal mentorship programme for people interested in learning from the very basic investment level to advanced day trading involving futures and ALSI which will take place over three months. Drop me a line if you have some ideas on this!)

The stock market had run so hard over the last 10 days that it was time for it to take a breather. Tuesday and most of today constituted that breather in the short term.

Besides the short trade from this morning which I missed as I was attending to a large beekeeping goods order. I also run a full time beekeeping equipment supply business. While I was getting my weekly prescription of manual labour packing out the order of bee hives, beeswax and queen excluders I was not at my computer.

There was a grand 200 odd pts trading there for the taking this morning in the ALSI 40 short trade. Then the market started to move sideways for a couple of hours.

So, as I worked on my personal investing & trading mentorship programme, I kept a beady eye on the ALSI. I noticed a swing change and challenge of the 89e happened but failed. The moving average worked as support confirmed by the stochastic. Check 1 confirmed!

An hour or so later I look again and there it is! The signal to go long on the ALL Share Top 40! Around 14h30 it gave the signal with the best entry price being around 19300 but waiting for one more confirmation meant watching with baited breath until 19360 with a stop at 19330.

I went long after 15h20 and then added again about 15 min later. This price was around 19410. My target was 19535 which was a resistance level during the live chart yesterday. The SNP500 and Dow Futures were up stronger and our ALSI took off. It wasn't long and my take protif was hit... in fact it was less than 20 min and I was out of the trade.

The trade still went on to 19670 odd after that. This would've added an additional 100 odd pts to my total for the day but I ain't complaining! Besides by adding to the position as it went up I effectively doubled some of the points I did make due to the additional leverage I was using... In essence I got like an extra 80 pts when I added more contracts to the position.

Good trade nonetheless! And the market closed quite well considering its opening...

Financial, Trading Stocks & Investment Workshops, ebooks & financial freedom @ www.newsweek.co.za