Results for week 21. Volatile week that ended in the black. Call me stupid, but, I think a bottom is near--at least a retracement. ie with all the bad news and distribution that took place in the market this week, banking and the PHLX Housing Sector Index were positive today!!!!!!! * Citigroup, AIG, and American Express were up today. * KBW Bank Index was up * S&P Bank Index up * Amex Securities and Brokers Index up * Nasdaq Financial 100 Index up * PHLX HOUSING SECTOR INDEX UP .89% today!!!! Don't know if this means a short term bottom is near, but, I thought it was interesting to see investors nibling at financial stocks today. Also, my apologies for not responding to those of you who sent PMs to me this week. I will get to them over the weekend. Hope everyone has a great weekend!
Hey folks, no trades today. There is a nasty flu virus making its way through the family and it looks like my number is up. I'll post something when I'm feeling better and in a better position to trade.
No trading to report for weeks 22 and 23. I got over a nasty flu just in time for the Holidays. I hope everyone's thanksgiving was pleasant.
look who's back! Great to see ya and looking forward to your fantastic trading results in the coming days.
Interesting day to say the least. I figured today would just be a lazy/post-holiday range day. I am long in my swing account from Friday's action and ended up short in my intraday account for this project. :-O Volume wasn't terribly exciting today; It looks like the market is trying to find a bottom; We'll see what happens tomorrow. I'll exit my swing long tomorrow if the market stays south during the pm. Anyways...enough about swing trading! * Price opened above the pivot and shot right through friday's high and R1. * I did not see any confirmation on the A/D or A/D volume charts. * The indexes and sectors I track were somewhat mixed. Although technology was interesting. Google and Apple looked to break out today. Apple ended up up for the day but Google went south. * Price didn't follow through to the upside after the am surge. Trade 1: ====== Went short on limit order when ADVLine broke out of it's range. Trend indicator was red; and fast EMA crossed under Slow EMA; (1) +10 (1) +115 I get nervous about holding trades after 3:30pm so exited on the first sign of a retracement. I've seen a lot of violent reversals occur between 3:30pm and market close.
Hey Persistent,,,, Great thread and way to keep the updates.., ive recently opened my retail account again and it looks like we trade similar setups,, ill be watching, - slaughtery
Hey folks, A bit whippy today. Price opened below the Daily Pivot and raced up to test it. Price eventually made it past the Daily Pivot with some momentum and I went long with confluence on the AD and ADV charts. I got whip-sawed pretty hard on the 2nd trade after price broke through R1. After that I seemed to have lost my concentration thus I just sat on the sidelines protecting my +27 pts for the day Trade 1 (+67): ====== (1) +10 (1) +57 Trade 2 (-40): ====== (1) -20 (1) -20 Net +27 for the day.
Mighty nice Bull Flag at the open! Fed VP gave a very dovish speech and that's all the market needed to start a short covering rally. Economic data looked mixed IMO, but, I don't have a Ph.D. in Economics so I'll defer to the experts. ie I'm not sure the data was good enough to sustain a rally and reverse the trend on the daily chart. We'll just have to wait and see to find out if this is a trend reversal or just a retracement of the current down trend. Trade 1: (1) +10 (1) +195