4/21/09: Trade Details: 11:31 QLGC SHORT 13.93 *QLGC gapped up and moved up thoughout the a.m.-I waited for the first sign of weakness to start looking short. The 11:10 bar on the 5 min chart takes out 3 prior green bars, followed by 3 small bars to form a lower high. I shorted below this (13.93), put my stop just above this lower high (14.07), and my target just above the last major pivot at 10:45 (13.63). Hit tgt. 1:17 SDS BUY 68.88 * SDS was moving down all mring , but I had a short bias, so I waited for the first sign of weakness in SPY(or strength in SDS), to buy. The 1 p.m. bar moves up (on SDS) and takes out 3 prior bars of selling, a sign of (some) strength. It follows by putting in a higher low at 1:15. I buy over the prior 5 min bar high (68.88), stop under the higher low (68.48) and target at the high of the 11:45 breakdown (69.68). This trade almost stopped me out twice, rallied hard close to tgt, so I moved my stop to b/e. Stopped b/e. 2:03 FAZ BUY 10.14 *FAZ is very similar to the SDS trade. It was in a downtrend most of the day, then put in a strong bar at 1:20, followed by a long sideways move, a sign of (some) strength. At 2:00 it puts in a small higher low and I buy over this (10.14), with a stop below the pivot (9.94) and a target of the 12:25 breakdown(resistance) 10.54. Hit tgt.
Hi Geez, first time I've come across this thread. So far just read the last few pages and the first few, very nice, funny how the "na sayers" started of and you've answerd back with nice trading. Good trading, will keep checking in. Very nice to see just good old trading and no BS.