Jul 31, 2007

Breakeven

Market's been a real bore the last two days. Today I shorted LCAV and went long KMGB and ended up breakeven on some pretty lackluster action (and charts, that's why there are none). I'm in total limit loss mode right now and selling/buying when a trade starts going against me. I'll be damned if I'm gonna lose 1 single R in this current market.
Damned I tell you!!!

9 comments:

victor said...

What's wrong with this market?

OONR7 said...

a bore for me... not a lot of great setups, sloppy price action, no follow through. Shall I continue??
Congrats to you if you've done well but the gappers have been crappers the last two days.

Jerry said...

I agreed oonr7.

I have MOS and GM that I wanted to trade. Decided to short GM break orl, but it stall, so I got out. Few mins later, both stock tumble as I saw it. But I chicken got out to quick. haha.

OONR7 said...

jerry... there's always Wed, Thurs and Friday. That's the beauty of trading, forget today... look to tomorrow.

Tom T. said...

oonr7 - you mentioned using prophet.net. So do I. I am wondering what went wrong today because my scans did not work until 10:24 market time. Then, when I got the scan to work it gave me 56 stocks based on criteria similar to yours that you mentioned earlier - this is triple the average of stocks I normally get during the first hour of market activity. Was it just me or did you experience problems with prophet.net?

OONR7 said...

tom... I didn't see any problems with prophet today and I pulled my scans at around 9:50am. Not sure why you did.

Anonymous said...

OONR7:
I feel exactly the same... There is one good setup but I missed.
SIMO 15 minutes chart 11th bar..


anyway, defense win the game.

DT

bl said...

nr7,
I actually thought there were some fab set ups yesterday and today. I'm trying to make my watchlist smaller and smaller either using Scottrade's most % up/dn(20), or my watchlist of 150 naz >$40 for %/$(take 12-20), or both. FWIW, try looking at gap dns that retrace .62(yesterday close-today OR lo): nvtl iaci bphx or .32: simo lcav ivac and look for the reverse at that fib.Amazing to look at 1 min charts and see how they fib retrace around the open, bounce against the 5ema and reverse. Traded BWLD 12/15" for 1/2 pt. Better entry 6/15" .32 fib interday retracement or 9/15" hammer. trow hit the 5fib, crox 32fib, atpg 62fib

OONR7 said...

bl... nice job with BWLD