Positions Going Into 5/29

[whodi]

Holding Positions in:

NEM-PRICE 41.75 10,000 SHARES- Closed at 39.20
MDRX-PRICE 24.83 2,500 SHARES- This is a short, closed at 24.09

Recap of todays action:

Not a lot of trading for me today, Holiday weekend coming up and with the gap up, it was hard to get into any positions.

I covered my entire 5,000 shares I had short on NHWK at 18.70 for a 5 cent loss and a loss of $250.. I didnt like the action in it today and did not want to hold it going into Tuesday's session. The Gap up hurt my position in this one. I hate gap ups when I have shorts.

I daytraded AMZN 1 time. I bought 5,000 shares at 68.50 and sold at 68.73 for a 23 cent gain and a profit of $1,150

Todays profits on my trades are $900 bringing this weeks trading to a close and ending the week increasing my profits from $31,650 to $32,550. Another solid week.

I will be out of town this weekend and I won't be back until Tuesday evening, so I am having some of my friends that are traders manage my account and I will update you all on the trading action that took place on Tuesday. I decided to hold the remaining 2,500 shares of MDRX because I have already locked in profits, which I should of done on NHWK yesterday. It has been a bit oversold and trading at lows today, so I want to see if it can start descending into the 23 levels. I will let them know what my exit point is on this stock if it starts moving to the upside, so I dont give back the potential gains I have in MDRX right now.

Having a nice Holiday guys and will see you all on Wednesday.

[Goods]

I'm reading as much as I can on trading. I want to learn this. Getting overwhelmed though, could you answer a few questions? It'll help me get a better view.

Could you tell me what you watching on a basic chart?
SMA? 13? 50? 200? EMA? Slow/Fast Stochastic? (for example, Scottrade will tell me the XX day moving averages indicate a bear trend. But say the Stochastic will indicate oversold and moving back up, indicating a bull trend. I'm confused)

I know you watch volume. What are you looking for exactly? Higher than usual volume going either way? Or just heavy volume altogether?

On a day trade. do you generally look at a one day chart waiting for the price to go above (or below) the moving average? How far on a time line do you go for a 2-3 day (or more) trade?

Do you have specific group of companies you watch or does Interactive Brokers send you suggestions?

Could you recommend some books and/or websites?
As always, all help is greatly appreciated. Gotta model those who've been there if I want to be successful right?

Thanks Whodi!

[whodi]

I will help you out and answer some of these questions a little later in the day, I have some catching up to do from my trip I just got back from.