Jun 30, 2009

Tuesday's trades

One loss, one win. Started off shorting SO off a break of the 10:40 bar low (5-min). It was a bit below the the ORL, but I was hoping for a quick drop to the fib. ext. and that's where I would've sold. Kinda wish I hadn't taken the risk.

Next up was SCHN. Shorted off a break of the 10:50 bar low (5-min) and this was a nicer setup than SO. The OR was clearly defined and I basically bought off the pullback into the 5ema. Now, it doesn't look like much of a drop after entry but I was able to get a nice $1.2 move off of it and pretty much exited near the bottom of the day (as of 3:30).


bl said...

Nice trades. Did SpiderScan help? I was on the wrong side of the mkt looking long. I got set into that 8% scan, however the Beta WL had some at Open Rockets: ip tin fuqi. SLM for coffee

OONR7 said...

bl: SpiderScan did indeed help. There were a few stocks I was looking to go long on as well.