Sep 15, 2008

Cautious day

Didn't take a few trades today just based on the action I was seeing. That and I had some stuff that took me away from the monitor. Ended up profitable but not by much. Shorted WAG (11am bar low) and PTEN (10:45 bar low). Both reached 1R and then I set my stop to breakeven and was stopped out. I had an order to short SUN on a break of the 1pm bar low but it never executed in the next bar. That's when I left my screen. However, the next bar was a perfect entry and would have provided a really nice return. Oh well... I'm happy with my patience.


TraderAm said...

A profit is a profit, so well done.
I did ok today, but after looking at some other charts and seeing how much the market was weak, I felt I should have done better. Must stop beating myself

OONR7 said...

traderam: you did just fine... there were a lot of crazy moves today. I felt if I hadn't had my stop at BE I was just gambling.

QQQBall said...

AAUK & BHP PB'ed to Trader X fibbo areas and then continued back down in direction of the gap... trades are a little more discretionary and need to be alert for bounces.

went long GG near the close.

i should have been more alert to trades like XOM that backfilled the gap down.

got some work in, so might not be trading for a few days... its college tuition & dorm fee time..

bl said...

fwiw, BAC buys MER at a premium along with bad fin news. an auto BAC short at open or 8/15". gap wb gfig cit soo many financials/etf's. Somebody is making $ and alot. Airlines/rails/transports up up up at the open. looking for reversal vix p-c ratio are up...oct?

OONR7 said...

qqq: the next couple days may be tricky so it's probably to your advantage to have 'other' work.

bl: you should start your own blog... I like your ideas and they way you can see the big picture.

bl said...

NR, thanks. I gotta make some $ first