May 13, 2009

Wednesday's trades

Pretty unspectacular day. Ended up green but not much to write home about. DRYS was an easy-going trade and BAC proved to move in the direction I wanted it to, but I was not convinced it would. VNDA was just not nice with stop-slippage driving me mad.




13 comments:

Chris said...

Seemed like a tough day. Nice that you ended green. Keep it up.

Anonymous said...

hello there:
long tine didnot read this blog. wondering, if you can start the quiz like you used to have a yr or so ago w/ chart half way and if the setup is good for a long /short/none. Would be a great exercise. I am w/out job right now so trying my luck in daytrading.
thx
victor

OONR7 said...

chris: thanks... not looking to be a hero - just want to make solid trades. There's still plenty of time this week to make my money :)

victor: oh yeah... Rise or Fall. I'm definitely due to reprise it. Hopefully I'll get something up this weekend.

bl said...

NR, good job: secondary offerings usually take a hit: F CLF MGM today. Top 12 >$10 gap scan(6:50am): mgm pl ncmi clf mac hig csh lho aks gt mee ip

Anonymous said...

Shorted the 10:30 10 minute bar on UBS and the 10:20 10 minute on HBC. Made a little change today.

Paul

bl said...

FWIW, the SPY did an H pattern b/d at 5/15 and 5ema like most stocks. maybe something to keep in mind along with the fact eps season almost over, stress test done, SPY reversed at 200ema(1-2 pts less, summer up. crater donwn to some fib leve/spt 830

fir3ant said...

hey buddy,
I have 2 questions 4 ya.
1st, regarding yesterday's JNS - what made you wait for your entry candle Vs mine(7/10).

2nd - I see on BAC your trigger closed above the ORL - what are the pros/cons of doing so? When I saw CLF today (look 5th and 6th on the 15) and decided to pass...

Luckily, I didn't pass on AKS (6/15) and x (12/15). Wanted also to short MGM but it wasn't avail on my platform. Played a bit with MIR (7/10) it went 1R and I got stopped for b/e (later it fell), lost 1R on PFE (4/15) and a half R on SDS (9/15 half position).
Overall positive but very dissapointed again.

OONR7 said...

paul: nice job with UBS and HBC... timed them perfectly. Looks like you made more than a little change :)

bl: I hope the action picks up... the past few days have been a challenge.

fir: back in the day (okay, two months ago), I would've entered JNS exactly where you did. Now, I wait for a clear, NR pullback to the 5ema. The other reason why I gave up on JNS was that my entry was smack in the middle of S3 and S4. I was hoping for a strong move and it didn't happen at first.
As for BAC and my thoughts on OR. Well, my thinking is that if a good setup presents itself... take it, especially if there's room to at least make 1R. Then I can always set my stop to BE and see how price interacts with the OR. I also look to see how my entry bar set up. If it's really narrow and I can lower risk - that's good. Overall, I'm not as concerned with the OR as I used to be.
AKS and MIR were very nice setups... good catch. What scanner are you using and what time do you run your scans?

fir3ant said...

Hi again,thx for your input.
I use the Strategy Desk from Ameritrade. I have a basic scan for gappers and a couple of others running in parallel (for example NRB's on 10 and 15 near the 5ema)

Tyler said...

00NR7,

I saw your post on Kat's blog. I am glad you saw that Anon comment. That same douche left a comment like that the other day, so of course I left a comment calling him a douche. He never responded.

Tyler

OONR7 said...

tyler: he left a comment a few months ago dissing TraderAM and I decided not to allow them anymore. My blog will officially be douchebag-comment free :)
The only way to stop the comments is to moderate... they'll get tired and possibly jump out a window due to the pent up anger.

fir3ant said...

took URS off the 8/15 for a very nice run.
However, as (almost) usual, let another stupid trade ruin the P&L bottom line. Entered also UBS off the 9/10, but it didn't go right away and I jumped out - of course it went 2R's a bit later.
Never learn...
Hope u r doing better out there today!

OONR7 said...

fir: nice going with URS. UBS was risky for my perspective as your entry was off the 4th up bar... seemed like a retracement was due. I'm only in CA right now and hoping it hits the fib. ext.