igt 18.24 .. 1) going to step away from the computer now, sometimes you donot take good entries cause the risk is a bit higher,watching price move away is painful act 2) I will quantify the predictability of a (How predictable) / (% of risk ) , later. 3) Never chase entries period. New entries come every week, Theres no lack of these fucks. I'm going to go watch a movie now, Leonardo Dicaprio.. Shutter Island. Buy some chips and nachos, , nice big starbucks frap. We come back tomorrow.
IGT 17.82 If I had entered IGT @ 17.84 , I'd take a 1 or 2 cent loss. I would completely sell off right now instead of waiting for a stopout. , for a few reasons 1) Dow has more to fall. 2) Weak or what? 3) Price will take things to the extremes. 4) If I'm going overnight with a position, it better be in the green. So I'd sell the shit ---------- I'm not in the position, so I think I 'll go eat a cookie.
Thoughts on SAME price, Different time. Different value. 17.82 @ 9:50 AM 's value Is not the same as 17.82 @ 11:31 AM 's value 9:50 has hidden value, as in undiscovered value , (market indifference) 11:31 has no hidden value. (market trending down) "Value" is not stagnant, its constantly moving with the market. A bulb of light is worthless @ 2PM in the afternoon, but worth a lot @ 11PM at night. Many people focus on price as a linear object, wrong. Its at least a 3d object with Time and Conditions as 2nd and 3rd. I would not buy 17.78 here.
market close thoughts IGT - as I said bad value GOLD - down 1.7% ABX - down 4% IAG - down 6% I know theres a lot of bagholders of gold here on elitetrader remember traders....<b> trade what you know, what you seen before, don't hope for shit.</b>
CBL long entered 14.30 stop 14.24 ----- 1) Price action prediction: Stock must be nicely green at the end of the day or I'm selling. 2) size isn't that big actually quite small, I would have liked to enter LARGE, but would be dangerous for a shifty stock like this. I couldn't MKT STP myself out with $500k shares of this.. 3) I do feel its a good entry.
plcm - flat. completely MKT out 30.47 (-0.13) entry 30.60 General S&P Market looks downtrending, I Do not want to be holding this.