That is what I should do in a market like this. It is a bear market, but I am still in bull market mode… looking for long trades. I should more often take a shot at a short.
At least I made some money today.
Archive for February, 2008
Shots at shorts
Nothing great…
Click the chart for an overview
This was a very nice trade. But there could have been more in it. A lot more!
CNQ gapped up and formed a nice base. Just before 11.00 pace changed. The first wave down was the steepest. The second wave was a lot slower and the third wave stayed even more [...]
nEUROtic
click the chart
The currency (FOREX) market is hot. The $ is stone cold. The daily EURUSD chart looked like it could breakdown, but instead it broke to the upside with a lot of conviction. Crazy conviction! But in crazy markets there is often money to be made and the EURUSD was no exception today!
DLTR, APOL, PTR
Click on the chart for an overview
DLTR gapped up out of a daily consolidation. After a two wave correction during the day I spotted it when it showed the beginning of a 1 min bull flag. I was impatient in entering and cheated on target. There was only 30 minutes of the trading day left [...]
Tiny 2 wave pullback
big momentum move
consolidation
red lines are initial and trailing stops
1st pink line is long entry ( 8.67)
2nd pink line is partial exit (8.93)
3rd pink line is closing trade (9.25)
risk was 0.13, reward was (0.26 + 0.58)/2= 42 cts or more than 3R
