Dec 12, 2007

TWTC, ALO - Short

Two trades today... both short. I entered ALO after a two bar retrace into a reversal bar (12:15). I partialed after price didn't immediately move and hung around the ORL. I fully exited for a small loss on a break of the 1pm bar high. The next trade was TWTC and I entered after a failed reversal bar. Partialed after 2R and sold the rest just above the fib. ext. I explain the entry a little more on the chart:

7 comments:

Hammer Trader said...

nice trade TWTC.

Dave said...

Nice trade, OONR7. I like these trades that fade the overall market.

OONR7 said...

ht: thanks.

Dave: today was weird as the market opened up big, came back down, dropped then went back up again. I try to focus on what the chart is doing rather than what the overall market is doing.

DrDave said...

Hm I guess there's more than one Dave visiting this blog & commenting here :)

I picked up the TWM again today (but at the open today)...

Shorted AKAM (5M), took MTW long, ANDE long and was stopped out of COO

ended up getting a late day scalp out of NUAN short

wolverine said...

OONR7 -- Nice trade in TWTC. What made you watch it on the 30' chart instead of 15'? I tend to forget about 30' charts unless the opening swing low/high was on the 2nd 15' bar.

Frustrating day for me as I was in 2 nice shorts (UAUA, WM) that drifted up through their 5 EMAs, shook me off just before 3:00, then dropped again with the market.

bl said...

nr7, Nice with the 30" chart. A first I 've seen from you. Premkt best charts: pnc 10/15 akam 5/15 2,5/30 frpt 11/15 5/30. What a reversal day for brokers, financials, airlines. Un real. coo(-) alo(+) aapl option(+ from yesterday)> I'm stiking to the short game for now but group stock movement is impressive and might be a good strategy: high beta(financials) strength(solar). Dr Dave nice with the twm again. Hard to do both and the secret is to do one thing well over and over again, they say.

OONR7 said...

drdave: nice TWM trade.

wolverine: I have the :30 and the :15 open and side by side so I can see what's happening.

bl: the :30 chart is probably Rudy's style rubbing off on me. But I have been scanning the :30 for about the last 3 weeks.