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 [...]
Archive for February, 2010
Big gap down
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 [...]
A few trades
breakout to high (not really my favorite, but I thought this one was worth a try
good flush move on the 5 min chart into the rising sma 20/5
second test of resistance was followed by a weaker downmove
second bounce in range on the rising sma 20/5 could have been a better entry (smaller risk and better reward)
I missed that optimal [...]
