NG = down 2.10% man this contract is a bit of a headcase. I'm looking to go long now. Waiting 30 minutes. ----------- I'm devising a plan of entry right now... let me think about this
long NG , 3.962 stop 3.959 * edit still in the trade. * edit 2:04 , stopped out 3.956 This probably the low , but I can't seem to fit my ass in with a tight stop. Can't trade this.
stop placement was bad on that trade. direction and timing = correct. little pissed but what can you do. ****Going to modify some of my stop placement ideas tonight. Make it better.
Back to trading stocks, with valuation and all , Futures never played well for me, I mean *never*. In my 6 years of trading, I don't think I had one "large" profitable trade in trading futures. In stocks many. Price action is easier to read in stocks! Watching stocks: Thoratec - electronic hearts #top player Jazz Pharm - no idea Astrotech - astronaunt tech shit Magic software - Software company on CRM All profitable good companies. -------------- On the other hand: I'm being careful of being long stocks in the market, This market is floating around its top, Will enter with caution when I do.. Watching the market like a hawk, Market will be my "entry" signal first Stock , Second.
Thoughts on stock trading and business. Theres 3000 stocks out there just like there are hundreds of thosuands of businsess you can be in. On one side, there can be a very profitable rug business, On the other side can be APPLE computers, On the other side a very profitable fur from racoon business. Its doesn't matter what you do, but the business you choose is actually making YOU , money. There can be 2000 stocks out there up this year 2010. But the one thing we have to make sure is, The stock we are trading or investing is , is going up this year as well. I don't give a fuck about the other 1999 stocks. I want MY pick to be going up 100% 2 or 3 profitable trades in good companies can make the year well worth it, No need for more. Thats what I'm looking for. And I must be in those trades , regardless of the thousands of "setups" floating around daily.
1) buyer of jzzpharm 11.20 2) buyer of polycom 30.22 ,add 3)SHORT ym futures 10942, hedge waiting to buy polycom large on 30.09
market breaking close all positions down -60$ on a $55k position all together no joke good hedge on YM
market on the downtrend, don't be long in the market today or tomorrow. I want to be a buyer of PCLM though, but the markets going to look ugly, and when the market is ugly..... EVERYTHING IS UGYYEWGKLY