Market gapped down but found support. 1st 15m bar was low of day
Steady buying all day, but hard to find nice setups
NSC was my first trade but turned into a scratch trade
NFLX was not a great setup, almost stopped me out.
Tight stops give great risk/reward ratios but the entry has to be right
Entry 102.76 SL [...]
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Lots of buying
EOG
Source: $ gainers list
Nice breakout after a 60 min consolidation period
Daily was extended, so was higher risk, but the intraday chart was so nice, I took the trade anyway
Entry @102.06, SL 101.40
Target1 @ 103.45
Exit rest just before round number resistance (105) at 104.87
Usually I do not exit the second half before the trailing stop is [...]
Only one…
Not many daytrade setups today, at least setups I could find. Was not focussed and had other things going on at the same time, so that might have been a reason.
Friday trading
Often there is not that much happening on a friday in the markets. Especially if the market is very extended on a daily basis.
Today was no exception. The only trade I did was PACR and frankly I could not find much else. I had KR on my list because it held up so well and [...]
What goes up…
What goes up must come down and vice versa? NTRI was one of the top gainers in 2009 and it broke down really hard this year. After what seems to be an exhaustion gap in the beginning of march it showed up on my gainers list. I don’t know what the news was, but clearly there was a pleasant surprise. It ran up hard but finally offered a beautiful opportunity to enter. It was a pleasant surprise in a choppy market where most of the strong stock seem very extended and offer less opportunity.
In a choppy market, a great daily helps
# In a choppy market it helps to pick a stock with a great daily chart
# FRO had a clean breakout on the daily chart after a consolidation area
# The breakout was on big volume
What was I thinking?
Traded two breakouts for today. The first was ARO. It had a nice daily, but was very extended intraday when I entered and I got stopped out for a loss. What was I thinking?
No trades today
Had other business to attend to so no trades today. Does not look like I missed much.
30 min dummy trade
I have a love and hate relationship with PCLN. Once in a while it offers great profit, only to take it back, r by r. Today again I had a losing trade in PCLN. But I was able to compensate for it with a nice 30 min dummy setup, that worked out great.
Only one…
I had a hard time finding nice setups today. There were a few good daily charts with intraday momentum, but I did not trust most of them so I passed. I did trade PLL…
Big gap down
market gapped down big but found support on the rising sma 20 on the daily chart
the low of the day was set in the first 30 minutes
I could find no short trades I liked, but still traded PALM short for a loss
There were plenty of opportunities on the long side but a good entry was [...]
Great day
Did three trades today. Shorted PCLN early on the break of the 60 min bear flag. It moved very nice but failed to hit my first target. This was a higher risk trade because of the bullish daily chart so I set the stop at breakeven when the market seemed to bounce.PCLN could be worth [...]
Late…
Due to other commitments I missed the open and first hours of trading. By the time I got behind my computer I had missed all the fun. Momentum in the market made it clear there was not a lot of downside, while it still was too early to go long. I did scan for longs [...]
Hard day to read the market
It was a hard day to read the market, because it moved so little and erratically, at least to me. The market sold off from the open but there was no follow through after that first move (consisting of 2 waves down).
Instead momentum turned slowly positive and during lunch hour I found a few setups. [...]
Choppy day
difficult market todayI liked
strong first move out of the open
stalled near previous days high
sold off pretty strong
came back strong into the high
then fell slowly into the rising sma 20/5
I really like to buy these second bounce in a range trades before the breakout
Did not see it in time to buy it above the 5 min [...]
