Nov 13, 2007

WMT - Long

The day I make a killing when the market soars will be the first day I make a killing when the market soars. Contrary to big down days, I just can't seem to find nice setups or entries during big up days. I was able to make some money on WMT today off the :15 chart (break of 11am high) and broke even entering again on the 30-min chart (1pm bar). At least I can trade the full day tomorrow.

10 comments:

Eyal said...

LOL. Same story for me.

greytrader said...

Only traded WMT for BE also...
Missed FOSL later in the day, no excuse for that.

OONR7 said...

eyal: guess there is one thing in the market I can depend on :)

gt: yeah, I saw FOSL as well. The big drop at the open made me look for better setups.

QQQBall said...

hit AAV at 10.34. very rare counter-gap play. it paid 17% $1.80) divvy, so i didnt ming holding it. sold at 10.77 as i had a seminar.

i peaked later in the day abd GHL looked like it was making a late poke.

when i traded the QQQs (now QQQQS) exclusively, these were the worst days. usually, you'd get one shallow PB at like 6:45-7am pst, which i never took as i'd be looking for a depper PB for entry... and then you'd be stuck spectating for most of the day.

QQQBall said...

are any of you guys going to Las Vegas trading expo?

hrgreen said...

Traded WMT on the 5 min for a nice profit...

OONR7 said...

qqq: nice going. I'm waiting for the expo to come to Paris.

Anonymous said...

made tons of money on DRYS/AAPL/FMCN

thx to OONR7 for everything i learnt here

Flatwallet said...

Don't sweat it man. First, I could barely find some decent gap ups that had decent dailies. Second the market was so crappy till almost 2 that it almost destroyed all the nice charts. So while today was a big up day, you would have made big money trading futures and not stocks. I tend to not have great days if the market gaps up big. It was so choppy that I almost gave up until ARO took off.

OONR7 said...

fw: nice catch with ARO. Didn't make it on my watchlist.