Jun 1, 2009

Monday's trades

Not a good start to June... but when do my months ever start out well??? Went long PWE, SOHU and BHP. Got stopped out of PWE and SOHU and managed to make cash back with BHP (and a little luck that my stop wasn't triggered). Enterted BHP on a break of the 11:30 bar high (:15) and after a nice gain - and trying to hold for me - I ended up selling for a relatively meager gain on a break of the 2:30 bar low.


Anonymous said...

i didnot trade indiv stocks as i was short SSO. And held on.
But i saw many opportunities that i couldnot take as my GF's was pissing my head off..

bl said...

Here's what I saw today: 1)1st days of the month(like today) have made 5200 points vs 195 for the rest of the days of the mo combined(+/-23 days) over the last 11 years(per Trader's Almanac)! 2)premkt GS calls out 17% gain in commodities this year 3)rally was over for gappers at 10:15 and stopped out latter, unless you were in retail/reits(upgrades:kss anf)anf kss jwn tgt jcp m aapl amzn ebay followed thru...if one isn't in the right Group forget it. By the time I had my stuff charted it was over. Solution:1) big gap days look at etf WL 5min charts at open for small pull backs2)Pre WL of expensive stocks if one plays options. I think the increased 2x and 3x etf's have made for more volitility and overnight gaps with result of alot of the stocks play catch up and then no follow thru unless one has a very short open WL(1/5) with narrow price levels(say $7-20 >40k vol: grow dds cbs kirk jwn m apwr pld) 3)recognize a group move like retail/reit early with follow thru, or commodity WL. I think Jamie has the right idea with a pre WL of 50 reping various groups. I think X saw that the market had changed-faster with low odds for follow thru-and went to 10' charts. That's my take. Comments?Good luck to all.

Anonymous said...

I think X saw that the market had changed-faster with low odds for follow thru-and went to 10' charts...
hey bl, care to explain that? thx


gary said...


If the entry isnt there then dont trade--save that $ for the next BEAUTIFUL setup you see --traded POT long for $2 off 5 minute gap and same for AEM $1 almost on short side. Pretty good day for me -- mostly its not.

Anonymous said...

No trades for me.
GNW HXL VPRT good B&B set ups.


OONR7 said...

camper: HXL looked really nice.