May 20, 2009

Wednesday's trades

Today blew... big time. Traded COST, MTL, MT and X (all long). Every one except MTL reached 1R and I was able to bring 1/2 my shares to BE before being stopped out. What a crazy selloff at 11:45. I had actually managed to get back in the green and was setting limit-sell orders before I heard the 'dings' of executed orders.


I will be shocked if other gap traders managed to make some cash today.

14 comments:

bl said...

Yo Still think you are gettin into trades too late, then they reverse and you're stopped out. It seems to be a pattern you might want to look at. Of course a follow thru day, no problem. Try a Commodity WL(ferts, ships, metals, solar, oil, rails) or Financials...see what's moving and "GO". Check bni csx unp nsc. Missed MOS MON FSLR option play. Premkt MktWatch and Briefing WL(us only): tgt hpq bj rf de bac tol mcd. Small and manageable.
Prez talking about oil, etc: FSLR

bl said...

Just noticed PALM chart...multi entries 10'-30' charts

Kat Bay said...

Yes, up three dollars and six cents. It'll go to Starbucks.

OONR7 said...

kat: ok... you officially shocked me :) Good for you to be in the green.

bl: start a blog already and show us how you do it. I enter too late? I suppose anything after 9:45 is too late for you. I trade the pullback on strong/weak stocks. That's how it is. Most days it works well, some days it does not.
Your comments are kinda all blending into one at this point. Really, if you want me to listen and take notice then post some charts, strategies and prove you make the trades you think I and others should be in.
I'd also love the chance to critique your trades :)

bl said...

10-4 I'll hold back for awhile...have a swell weekend...down south for me San Diego

TraderAm said...

Hard going today...hopefully we get some better days soon.

Anonymous said...

Long BVF the break of the 10:10 bar. Closed break even as it never got any lift. I didn't buy it but the break of the 15 min bar at 10:45 on DISCA looked like it had potential.

Paul

fozzking said...

i was 7 losers, 1 winner. rough day

Anonymous said...

MCD

OONR7 said...

traderam: I always say that it only takes one good day. I haven't seen the market switch directions like that in a long time.

paul: good to stay green.

fozzking: I can imagine it was a long day for you. Brush it off and look for good entries today.

anon: yeah, I passed on MCD because the pullback wasn't how I liked it. Good choice.

fir3ant said...

YGE 8/15 (missed of course...) and some gold plays late the days were the only things that worked.
Other than that pure frustration (that led to over and revenge trading = mini blowup) after hitting 1R and more and various plays.
:-(

Anonymous said...

JASO and HTZ (found by Trader A) formed 2 good set ups. Did not take any :(
FSLR was a good Base&Break 200


campertrader

bl said...

Thrs premkt(all) and open(10min w/vol)(naz): bpi tecd csiq intu rost ntes jnpr. Some upgrades in there. CME upped by GS...ndaq nyx rallied.Shorts jrcc. San Diego calling. Have a nice restfull weekend.

OONR7 said...

enjoy your trip BL.