Stopped out of JRCC, PCX... NEVER OVER 3% STOP!! NEVER! Short TBSI 36.3, EXM 35.3, both triangle breakdowns.. Short FSLR 258.5 Long CLF 96 As always, markets (Bull or Bear) tend to leave no stock behind... Commodities finally whacked.
As is the case in this type of market, they also bump them up premarket and drop them down as the day progresses. You should definitely be looking closely at this to help with entry and exit times. Try looking at the 1 or 2 hour MACD/Stoch's over multiple periods and you'll see what I mean.
I have looked at hourlies and they can considerable improve things "IF" I don't get sucked into daytrading.. my nemesis. The entries Today were far from ideal and risked stop-outs if it wasn't a really weak day.. I would love to see an example of an hourly trade from you...
Stopped out CF -1pt Covered rest of EXM, TBSI. Only position... That nasty RYL short The bulk of last week's loss from AGU short... now near 90..
Re-bought CF 141.. should have given a bit more room.. HARD rising trendline+140 support was reason for trade.. Bottom fishing not easy.. Only snag is MACD still declining... so this is to be a quickie trade... a bit longer than the first I hope.. hopefully we get the patriotic good markets on Monday... <gg>
Stop at 23.25 on RYL.. If it kicks me out again I am kicking it out of my trading list! As vile as a stock gets.. a daytrders plaything..