The Submarine Basket of stocks

One of the important elements in trading that every trader must conquer is the issue of organization. Each person is different so this will present itself in many shapes and forms – but is critical that this be an important goal.

Whatever your trading process may be, there are some key areas you need to focus on in getting organized:

  • The Watch-lists. Having a well curated list of stocks that you want to focus on for the coming week helps to take the pressure off of having to watch 100s of stocks.
  • Current positions near a key area like Resistance. Do you have Long positions that are close to an area where Bears may show up? Do you have a plan?
  • If you trade Options, do you have a list of positions that are due for expiration in the coming week? Do you have a plan for each?
  • Your Desk. Is it organized for the way you work/think?
  • Your Computer(s) & Internet Infrastructure. Are these invaluable/necessary tools in good working order? Are you putting off a needed upgrade for some reason?

The above are just a few areas that I am highlighting here – there are surely more to consider. What I would like to do now is drill down on the subject of the Watch-list. For those that follow me on twitter, you know that I keep several watch-lists. I try to be very descriptive with my watch-lists so that it is easy for me to determine what needs to go in them – and what I want from each list.

A new watch-list that I have started this year is called the Submarine Basket. I keep 10 stocks in this list:

  • Beat Up stocks. I want quality names in this list, but are in a pullback for some reason or maybe a late Stage 4.
  • Here is what is currently in this watch-list: Submarine
  • In my trading reviews over the past several years I had found that I traded a lot of stocks in this mode – so it only made sense to create a watch-list that contains quality stocks that helps me focus on finding/trading this type of setup.

Just one way to help me stay organized and keep me focused. Finally, we are heading into March Option expiration so expect some good surprises as usual.

Enjoy the rest of your weekend.

2 thoughts on “The Submarine Basket of stocks

  1. I pick these stocks myself, create a “Portfolio” in Yahoo Finance. It then allows you to “Open in Screener” so that you can review a lot more info about each stock.

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