Sep 21, 2007


Not a fantastic day for me. Was pretty active and ended up digging myself out of a hole with BLUD, but I had to even get out of that before I thought I was going to have to. My typical type of trades weren't really workin' today but I did see a nice inside NR bar (2nd bar) setup in SNCR (15-min) right above R2. I actually had this trade up on my order screen but hesitated because I thought the 5ema was too far away. Kinda kicked myself when it proceeded to drop 3 points.

Enjoy your weekend. I may throw up another Rise or Fall tomorrow.


Anonymous said...

SNCR looks good on 5 minutes chart.

John S. said...

I almost traded BLUD today. . saw in Pre-Market that it was breaking out above $35.99. . Almost pulled the trigger at $36.10 since I was guess $36 would now act as support (versus prior resistance,) but didn't want to take the chance in case it didn't hold

Could I ask what you look for in volume if you are going long on a stock. . Meaning, on a 5 minute chart do you like to see the volume steadily increase. . I assume you don't want a big spike in volume, right before you go long, right? Also, with Stochastics, do you chart Full Stoch, Fast Stoch, etc, and do you ever look for Stochastics diverengence, where the stock is heading higher but the Stochastics are tailing downwards?

Thanks, and have a good weekend. . Do you really live in France??

greytrader said...

Do you have a maximum loss per day ? I stop whenever I am down 2R. Does not happen often but it does.

bl said...

sncr came up on my NAZ WL >40. The Briefing Premkt WL had 9 naz >$30 plus nke har. A short list with some good fades: jaso gold ndaq nke lulu. lost on LULU(long) HAR(long) which had a fantastic short TraderX type(!!) chart. aapl and shpgy good long charts on 15". Simplicity.

bl said...

BTW, in terms of sector momo the solars and shippers mezmerized my naz(and a few nyse) WL. Can you copy the Briefing WL for Monday as Jamie won't be around? Thanks

bl said...

BTW, I have a Chinese WL with them and solars, shippers.T hursday the Chinese WL moved! Haven't used it yet but have 6 strategies I'm experimenting with and Briefing is what I'm focusing on now primarily naz >$30. I was overwhelmed with Briefing WL(45) this am and lost my focus. Having 6-12 WL is manageable with 5 min charts, then 15" as the day moves is ok with me. But cutting' the fat has to be ruthless and quick prior to the open as I upload the charts premkt. The point is to focus on 4 charts and observe the action from the open: reversals, etc.

OONR7 said...

anon: SNCR looked even better on the 10-min. Damn.

john s: for my typical setup, I look for a volume increase on my entry bar (at least 25% more volume than the previous bar). Huge volume spikes around round numbers or the .50 mark concern me.
As for Stochastics... I have played with them before but 1) they're reliable some of the times with my system and 2) I try to limit the amount of indicators I use. Too many indicators can create overanalysis on trades.

gt: I'm with you... 2R represents a pretty significant loss. And, like you, it doesn't happen often as I usually limit my losses when a trade does not go my way. With that being said, there have been a couple of times this week where I've been down 2R and have been able to climb back up by continuing to focus on good trades. I've been trying some new things lately which cost me some Rs but I don't plan on making the same mistakes in the future.

bl: I read on Eyal's site that HAR was halted... that's been a nightmare of mine. You put all this money in a stock and they stop trading. I'll try to post the Briefing WL as I have access to the info. but I'm trying to see where it's formatted as Jamie presents it. I'll do my best.
And I also had a lot of candidates to sort through on my watchlist today. I have been importing top % gainers and losers from IB at 9:35 but I may need to start knocking off any stocks that haven't gained at least 1%. I started using IB's scan because my prophet scan looks for gappers with at least a 2% gain... so I didn't want to miss a nice gapper that jumped say, 1.5%, at the open and then continued higher. I would only use prophet but there information usually doesn't become available till 9:40 or 9:45. I may have to check next week to see if their info's available sooner.

bl said...

Yea I must have been the LAST har sell trade at 88.85 just before it halted and crashed to 80 post mkt. No kidding!! I thought about long at 82 but no. Who knows what the weekend shenanagens could bring. The Briefing premkt gappers are noted on their In Play premkt. I think Trader Mike and others have it too on their blog site.