<img src="http://puddles.humanfund.ca/20101019/spy.png"> <img src="http://puddles.humanfund.ca/20101019/rimm.png"> <img src="http://puddles.humanfund.ca/20101019/v.png"> <img src="http://puddles.humanfund.ca/20101019/mon.png"> 9:54 (2 min play) SHORT RIMM 46.89 STOP 47.01 TGT 46.65 - Whole market down, look for a short entry for continuation.. - Caught this right as the market turned, the earlier lower high would have been perfect - out -0.15 10:17 LONG V 79.01 STOP 78.86 TGT 79.31 - V gapped down but went green quickly unlike the rest of the market - Look to get long as the market had turned from the bottoms - Long the break of the round #, using the bottom of current bar as the stop - out -0.19 10:31 LONG V 79.01 STOP 78.78 TGT 79.47 - See above, using prior bar for stop - out -0.24 - If i tried getting the break the 3rd time this would have worked out. 10:40 LONG MON 57.67 STOP 57.49 TGT 57.99 - MON goes green just after 10am with some strength - out -0.22 http://puddles.humanfund.ca/wp/2010/10/19/2010-10-19-trades/ (thanks mods for cleaning up the spam)
<img src="http://puddles.humanfund.ca/20101020/spy.png"> <img src="http://puddles.humanfund.ca/20101020/hgsi.png"> <img src="http://puddles.humanfund.ca/20101020/cof.png"> <img src="http://puddles.humanfund.ca/20101020/jnpr.png"> <img src="http://puddles.humanfund.ca/20101020/eca.png"> 9:50 SHORT HGSI 24.84 STOP 25.01 TGT .. - SPY gap up, HGSI gap down - I chased this, missed an earlier entry on the 2min - out -0.22 10:08 SHORT COF 37.83 STOP 38.01 TGT 37.50 - Up to 10am SPY was at HOD - COF was at LOD - Look for continuation as SPY turns - out +0.33 14:12 LONG JNPR 32.5 STOP 32.37 TGT 32.76 - SPY in a slow drift down from the highs between 1-2pm with a big red bar after 2pm - JNPR continued strength up - got 10c from tgt really quickly out -0.14 14:46 SHORT ECA 28.38 STOP 28.45 TGT 28.24 - ECA weak all day. - Small rally after 2pm with SPY but fully retraced the move up in 2 bars (spy did not retrace fully) - got 1c from stop, then LOD cover. xpert. - out +0.13 http://puddles.humanfund.ca/wp/2010/10/20/2010-10-20-trades/
Hi there, here 2 questions for Geez or Puddles about the 2 following patterns: (2) Market strong, stock has weak relative strength, buy the dip: On a multi-day move down and then a big gap down on the daily chart, wait for the first higher low to buy. (3) Market and stock extended, short the gap: Because of the indexes being extended and the gap up I look to get into shorts aggressively. Anytime I see a gap up after a multiday run up I am looking to get short. I'm looking to short any rally on the 5 minute chart as long as that rally doesn't go past (higher) than any prior pivot highs (showing strength again). When a stock is extended and the day before had huge buying after a multi-day rally and closed at the highs. I really like this for a day trade the next day. I expect people who have been long in this stock to take profits after that kind of move so the next day I look be aggressive in shorting it. ---------------------------------------------------------------------------------------------------- Q1: Is number 3 basically the inverse of number 2 or there something important and different I'm missing ? Q2: Why the need for the stock weak relative strength in pattern 2 ? Weak relative strength compared to the index daily chart or intraday to the opening move of the market? Thanks for an outstanding journal.