Cautionary tale against moving stops/targets. Shorted 600 AMZN @ 118.48 off the pullback from a failed break through previous resistance (2:47pm) with a 118.70 stop and 117.70 target. Moved .30 my way and I moved my stop to b/e. Stopped out b/e and the late day choppy price action after that kept me from re-entering. Damn thing hit 117.65 just before the closing bell. $460 left behind because of moving the stop.
<img src="http://puddles.humanfund.ca/20100628/spy.png"> <img src="http://puddles.humanfund.ca/20100628/pcx.png"> <img src="http://puddles.humanfund.ca/20100628/wmt.png"> <img src="http://puddles.humanfund.ca/20100628/nem.png"> <img src="http://puddles.humanfund.ca/20100628/pot.png"> 9:38 SHORT PCX 13.48 STOP 13.6 TGT 13.24 (2min chart) - PCX looks like a short on the daily - SPY opens with a red bar and tries to retrace - PCX stays weak - Short under the LOD - out -0.12, whipped out and eventually goes to target 9:41 LONG WMT 49.31 STOP 49.49.18 TGT 49.57 (2min chart) - WMT is very extended down on the daily, look to go long aggressively - SPY weak from the open crossing into negative territory - WMT stays strong - Long over higher low - out -0.18 10:17 LONG NEM 62.41 STOP 62.27 TGT 62.69 - NEM strong from the open vs. SPY - Long over a tight higher low - Move stop to 2nd legs stop after an add - out -0.02 10:31 LONG NEM 62.58 STOP 62.39 TGT 62.96 - NEM sets up another higher low after my entry - Long over higher low, move all stops - out -0.19 15:22 SHORT POT 91.99 STOP 92.14 TGT 91.69 - SPY kinda rangebound and choppy in the late afternoon - POT making new lows - POT sets up a tight lower high at a round number - Short under the round number - out +0.3 http://puddles.humanfund.ca/wp/2010/06/28/2010-06-28-trades/