Don: Not to begrudge you the time in the morning, but I still really appreciate your comments and tips. Thanks for your willingness to share. Gary
Thanks, I'm here!! Nice morning for enveloping, slight moves up and down....no real trend...."daytrading paradise".... Don
Had a nice morning except..... Darn JNS got me for -.30 Opened and dropped straight down. That sucks. SNE -.05 BAX +.02, went up a bit then came right back PBG +.15 GP +.15, had a nice winner til it snapped back and took half my profit. Raven is working well, just nothing to be done about JNS. Seems a lot of chop these mornings.
A quick 6 cents on WMT....I had a 12 cent slingshot in, he ran up 10 cents, turned back down, than encountered a pretty big short seller in the teens.....so I hit him long for the 6 cents. (I hate it when I think the market is over-due for a sell off....bad, bad, to have "thoughts" about the market). lol Don
Friday, another entirely forgettable opening. ABS -.14 right off the bat. ADM -.02 took a look at the book and bailed. Good thing. TJX +.08 DG .00 Raven took me out for no reason. May have been a glitch or may be another problem with Raven. Woulda been a winner. MBG +.19 only 100 shares though. Lately, seems to always be one that takes all the profit from the others.
As a trend trader I cannot think of anything that has cost me more profit opportunities than this quote above. Acting on my directional bias is bad. Not that I am always wrong, just as I am sure Don is not either, but it is not the right way to trade. Thanks for sharing the wisdom Don.
Another screwed up morning. Saw a blurb about Bin Laden being cornered and quickly canceled all my shorts. Haven't checked to see if I missed out on anything. I darn sure don't want to be caught short if Bin Ladin gets captured. THC -.02 Raven took me out again for no reason. gotta get to the bottom of that. AZN .00 I took myself out after Echo/Stirling started having quote problems.... AGAIN. Tough to trade without correct charts and time and sales. Seems like they have some kind of issue once or twice a week. Getting old too, for sure.
Anyone else take a big whack on IBM? First time it happened with that stock, it usually plays nice. At least everything else made up for it. Cash
Actually, I was lucky (and patient) on IBM, rode it up and back down for a scratch. Got a bit stuck in PFE and WMT (still holding).....I'll post final results in a while....right now I need to trade to get back into the green. Don
Yeah, my IBM hit was a classic enveloping play... someone probably enjoyed taking the other side of my trade on that one