Dang, playing TYC is paying off, got out again at 12.45 for another 6% gain. Net 12% off two trades. I see its at 11.9 again, but I think I will stay away this time...............for now...
Stopped out QQQs 24.69 - 1.06 yesterday SMHGZ .85 -.20 just now Bounce came and went. Failure to hold this morning is keeping me out of any longs and further breakdown I will go short. EXPE...see its good to sit and sit and sit and wait and then pounce. One of my biggest flaws is to walk away when a stock does not trade in my favor. Holding JNJ
Bounce to wash the gap around 35-36, and resume downtrend? Or was the last two days the bounce? Or will it continue up if the bottom is in (doubtful) Maybe a September straddle is the best play now.
I was trying to play QLGC with long calls the day before wcom crap hit the fan. I bought puts and now an long a straddle on QLGC since there is a lot of uncertainty about direction but no shortage of volatility. I just hope it moves enough in one direction so I can get out soon. By the way, what is your opinion on how to exit a straddle ? I am thinking that it will move one way enough to pay for both contracts and then I can sell the winner and keep the loser for the back swing as a free position.
Traded DIAN intraday, small shares, long both times +3.7 & + 2.02 First was the most points I have had in what seems years on a daytrade. No overnight positions entered, but DIAN and EXPE might set up on the short side in coming days. DIAN has a big picture H&S that broke down through the neckline today. 55 is resistance here. There was an avalanche of sell orders today but there must some big piggies still looking for the exit door so it best for me to sit and watch and when it breaks again i'll go short, or short at resistance and keep a stop. EXPE had a high volume hammer yesterday and bounced of the 200 sma. Those high volume bounces can sometimes hold a stock up for several days so i'll try to watch it closely over the next week.