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.
Archive for March, 2010
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…
