TRADES TODAY: 9:42 AMGN SHORT 56.14 STOP 56.31 TGT 55.82 EXIT 56.31 -200 * SPY gaps down and as it moves up AMGN stays weak (rel weakness play). Short on the 2 min chart lower high. 10:05 COST SHORT 58.60 STOP 58.95 TGT 57.90 *COST gaps under yesterday's green bar and stays weaker than SPY through the first 30 min. It puts in a lower high on the 5 min chart at 10:05 short there. EXIT 57.94 +375 10:25 WYNN SHORT 84.82 STOP 85.32 TGT 83.82 EXIT 83.82 +400 * WYNN is weak and puts in a lower high on the 5 min chart at 10:20 same time SPY does. 10:40 WYNN SHORT 84.24 STOP 84.34 TGT 83.64 EXIT 83.64 +420 * Already in one WYNN short and it breaks lod on a strong move and puts in a perfect lower high at 10:40. 4 TRADES 3 WINS 1 LOSS
<img src="http://puddles.humanfund.ca/20100506/spy.png"> <img src="http://puddles.humanfund.ca/20100506/wynn.png"> <img src="http://puddles.humanfund.ca/20100506/vrx.png"> 9:56 LONG VRX 49.02 (wanted .00) STOP 48.85 TGT 49:30 (2 minute chart) - VRX showing daily strength and had it's small pullback yesterday, now it's ready to roll again.. looking for longs. - gaps down with SPY but shows early strength on the 2min - take over the higher low on the 2 minute.. - looked good for a bit then a big bar down.. -0.17
<img src="http://puddles.humanfund.ca/20100507/spy.png"> <img src="http://puddles.humanfund.ca/20100507/hgsi.png"> 10:12 SHORT HGSI 22.79 STOP 23.02 TGT 22.33 - After thursday there's very little chance I'm going long anything intra day unless I can see a strong established uptrend - HGSI showing a weak daily almost to the point of extended down - HGSI gaps down with SPY but it's first three bars are much weaker than SPY (rel weakness to market) - The entry on the 9:50 is pretty nice as SPY turns but the stop is way too large (at the time) - HGSI steps down with SPY and sets up a nice tight lower high allowing for a small stop. - Short under prior bar at 22.79 (got filled at 22.78) - as the market continues to fall target is easily hit +0.45 wish they could all be this easy.
That's what I like about breakout trades (break thru HOD or LOD), when they work they work quickly so you can safely use a small stop. I've found them to be the easiest trades.
Trades from 5/7: 9:45 MCK SHORT 64.89 STOP 65.19 TGT 62.29 EXIT 65.19 -200 * MCK Gaps down and as SPY moves up MCK bases low for the first 10 min. As SPY reverses at 9:40 MCK break down. Short below the 9:40 low. It stops me out and goes right to tgt after that. 9:55 MON LONG 59.66 STOP 59.26 TGT 60.46 EXIT 59.26 -200 *MON is extended down on the daily chart , so looking for a bounce, puts in a higher low on the 5 min chart. 10:05 MOS LONG 48.74 STOP 48.54 TGT 49.14 EXIT 48.54 -200 *MOS is extended down on daily chart and holds strong the first 30 min of trading, but the higher low on 5 min chart. 12:05 1/2 LOT AKS LONG 15.90 STOP 15.60 13:30 1/2 LOT AKS LONG 15.76 STOP 15.60 TGT 16.40 EXIT all 15.60- 200 * AKS is extended down on daily holds real well all a.m., but the higher low right under HOD. 15:25 APOL SHORT 54.54 STOP 54.66 TGT 54.33 *EXIT b/e * APOL is weak through out the day and puts in a perfect lower high on the 5 min chart. Gets with .02 of tgt, move stop to b/e. 0 Wins 4 Losses 1 b/e