Dec 7, 2007

MVSN - Short

Fairly interesting day, albeit a bit sluggish. Short MVSN off a break of the 5th bar low after a three bar retrace and a hanging man-like entry bar at the ORH. Exited all my shares on a break of the 2:15 bar high after it spiked above the 5ema. Also got slapped around in SGR and ICOC.

In case you haven't heard the news... Tom C. has started his own blog. Tom was/is a protege of Trader-X and is a certifiable bad ass trader. Be sure to bookmark and check out his site daily.

6 comments:

Jerry said...

That is my type of entry. Imagine if it goes all the way to 38% Fib.

For me, I knew I was late in MVSN, but was hoping for a $1 gain which never happaned.

Great trade.

OONR7 said...

jerry: thanks. While the fib. ext would be great, my realistic target price was the ORL.

Jerry said...

Yeah, that is what I thought, ORL.
I just tried the IB backfill, the speed is ok. Maybe just for today.

How did found out of Tom C blog? You still keep in contact with him?

QQQBall said...

nice trade 007. when are you headed stateside?

OONR7 said...

jerry: X made a post about it. And yes, IB backfill has been on it's best behavior lately.

qqqball: thanks. Stayin' in Paris this year for the holidays. Probably won't be stateside till next summer.

bl said...

nr7, Nice trade and I went with the 5" 10:30 and stopped out. Too tight of a stop. Tried to get in again and passed me by. Heartache or wallet ache. Out of confusion cmes clarity with new short scan: >$1 gap dn >$12. Today there were 15: esl amgn cae, etc. Manageable. Shippers on fire: tk fro osg; solars: jaso ldk solf.