horizontal trend

Discussion in 'Trading' started by DT-waw, Jun 28, 2001.

  1. tradeRX


    How could you not do well today? The NAS COMP went straight up 40+ points in the AM. I had multi-point winners. Actually the NAS has risen every day for the last four or five days. Did you miss it?
    #11     Jun 29, 2001
  2. actually traderx, most experienced [swing] traders are shorting this rally. To have caught this rally, you would have had to be long from earlier this week. To chase this late in a rally is poor trading. It went up b/c of mutual funds marking up their stocks. I assume that monday is down after one last surge up. I'm gonna use that to short. So essentially, it was a difficult day. Especially b/c rtharp tends to fade up moves, and he would have just been stopped out over and over for small losses (though I do not know if that was the case with him today). I had nice gains today, but that was mainly a result of me selling the rest of my calls on LAB, MENT and CVG, and the last of my common in one other positoin [that I had bought into the tankage earlier this week and last] leaving me with one position now. Ths smart money was to get short near the close. Not to defend anyone loosing, cause loosing money is bad trading, but today would have been a hard day for anyone who was out of all longs and shorting (possibly too soon).
    Congrats on your gains though.
    #12     Jun 29, 2001