Jan 30, 2008

HTCH - Short

Just like Eyal, I also shorted HTCH and all was well for a bit. After entry, price dropped to a nice comfort zone away from my stop. As the FED announcement was approaching, I decided I would sell half my shares if price dropped below the ORL and hold the other half till after the announcement. While I was able to partial out, I was stopped out of the trade on a revised stop above the high of the 1:3o bar just before the FED. My fault for not exiting sooner but I was able to take home some cash.
No futures trades today either. I'm taking an educated guess in saying that there's been some cautious trading prior to the FED announcement (especially in Futures). I expect to put on some futures trades tomorrow just in time to end the month.

12 comments:

Jerry said...

I also traded, but unlike ZRAN I traded, I used I wide stop as I know the rate cut would affect the stock. It was a lucky play that I got out with profit.

bl said...

Most gap downs had tails with some execptions: hans pas ulbi trmb bhi whq. Better gap ups(5"/10" charts): tbsi(+shippers) rhi rmbs dov www. stopped out HWAY...a tail. Brokers/financials went bipolar at fomc: mer +3 reversed -3. Interesting on 1" chart w/ 13/50 ema.

Jerry said...

bl,

You always have good stocks. What scanner do you use?

QQQBall said...

they, the gap downs, also had the highest volume in the past couple weeks, or longer in many cases.

ive got my gap scans written for IQCharts. im adjusting with a 2% of 3% gap amount over the previous day's high. im trying to see if the program will overlay fib levels from previous day to ORH or low. the tricky part i think will be getting the program to read from the first 15 min or 30 min ORL/ORH. if i need to, ill switch programs.

bl said...

Jerry,
I use Scottrade's High's and Low's and set it +/-4% >20K >$6 first 5-15 min of open. It's pretty mechanical, ie you have to click each stock as it scrolls and that puts it on the watch list. Sort them after that. Today had many 3-5 5" bar consolidations then rally, like rmbs. I have group screens: brokers, bank, ship, solar, homes, fert, etc. They usually go in tandem within the group. Today shippers gapped and did well, the Briefing news helped.

Jerry said...

I wish you have a blog and share it with us real time. LOL.

QQQBall said...

do you use trade ideas in Scottrade to run teh scans? my kids have scottrade acc'ts & they get trade ideas. its funny you mentioned it, b/c thats on the schedule for thurs-fri. i know i guy that uses reatick & he has scans wirtten that can tell if the voolume is gonan be real high for the day. at least today, that would have really been a screen.

greytrader said...

oo,

Do you have to pay extra to get futures data from IB ?

OONR7 said...

gt: no, it's bundled with the data feed for stocks and options.

greytrader said...

Cool. I opened an IB account to try it out :-) Just waiting for the funds to show up.

bl said...

qqqball,
I use TI premkt only but not going to use it anymore. It's redundant and Scottrade H/L scan is easier to use. There is enough data and choices with ST.

QQQBall said...

thanks BL. the thing i like about IQCharts is that the scan results can be added to the Favorites list witha single mouse Click & they have a slide-show utility that allows you to run through 12 charts per minute.

i see you use >20k volume in first 15 minutes. im wondering if anyone does a % of ADV volume component? TIA