Going to be a tough week.. Have managed to not act as I should at all S&P supports and resistances.. instead allowing noise to distract from what should be done.. ACT AT NEXT TARGET! Trading timeframes need to be smaller for current conditions.
Ok.. Close to throwing up.. The roller coaster ride is nauseating.. Kudos to those that are able to ride each wave.. must be INSANELY profitable.. Replaced BIDU an AOI with MTH (14.8) and UYG (28.25) Longs.
Bad week.. These markets border on untradeable for swing-trading... daytraders must be in heaven. Week hurt by my insistence on trying to hold positions overnight.. Simply closing out each day would have meant a 15%+ week but I simply don't want to get into that.. Ironically I ended up still swapping trades daily but refused to take large profits when they were presented as "usually" they continue the following day.. Well not this week. S&P WILL LEAVE this area though Wall street and Ben are threatening to render the markets trendless.. Currently Short QMAR and TBSI, flat trades so far. Here's hoping Tuesday is a complete non-event.. Very tired of Ben and Co. I honestly believe if S&P threatened to close under 1270 a broad-based open market stock buying program would be announced whether taxpayers want to own stock or not.
Took Short profits on TBSI and QMAR.. Long RYL and MTH.. expecting positive but probably underwhelming responce to Ben tomorrow as Builders have not run (news related perhaps) into tomorrow as well as Markets may be getting tired of the shots as the disease doesn't seem to be curing.. yet. A RYL short under 25 (I will try to do it on failure on hourly chart at higher price) if it happens will be easiest 4 1/2 points a trader could ask for.. Triple position trade.
Took Profits TBSI, RYL, MTH(what a volatile stock!) Bought ANR (to high 34's?) and VCGH (to mid 9's?).. Will re-buy RYL over today's high tomorrow OR early morning weakness depending.. 31 target..
Too much trading to list.. mostly Builders.. Currently Long RYL, ABFS, and OFG. Eyeing DRYS for a proper entry soon.. No missing it this time!
Well.. a good week... Thanks Ben! Lit a fire under the decrepit Homebuilders which will be fine shorts someday.. Without my incessant meddling, could have been a mind-bending week but I'll have to live with me.. 3 day weekend here, thank you very much! Also got my IRS rebate (bribe) info in the mail.. thank you very much! Glad I didn't make enough last year to be excluded..