Well,I see a lot of semi stocks that had huge runs and a gap up today and now a huge black candle on daily. My tech swing trades are closed,don't think the mkt should have given that much back,even though indices still closed positive. But then again I am the king of leaving massive sums of money on the table. What does everyone else think?
Nervous Nellies. The planets could all be in alignment tomorrow....Fed rate cut? Republicans win senate? Cisco reports good earnings? Or...the Fed doesn't cut, the Dems win the house and senate, and Cisco reports worse than expected.
We really won't know until tomorrow at least, but there are a lot of shooting stars being printed today on decent volume. A lot of issues including KLAC and QCOM came down and essentially ended the day on their open, not a good sign. Still, on the daily charts a higher high and higher low was made so technically the uptrend is still intact.
The liberation of trading comes from trading what you see and not giving a "rat's ass" where it will go a week from now. That's why I had my most profitable day ever. And that's what I thank you for helping me become a better trader, Tech. You are really a great guy and I just wanted to tell you that publically -- so everyone knows. Thanks, and I look forward to trading tomorrow what I see and not what I think.
That's actually a good point because no matter how hard we try to clear our minds of bias, we often wind up seeing things we want to see. So it really is exceptionally tough to see what is in front of you and not what you'd like to see (aka see things that confirm your previous decision to do such and such -- aka blow sunshine up your own ass so you feel better about a decision that may have not been so great from the start). Ps: The beauty of this realization is knowing how to take it from the trading world and seeing how much bias one really holds towards life (aka love, girlfriends, jobs, other decisions, etc)
With swing trading I think there must be some I think In a swing trade if we have had a huge run and the day closed like today,my opinion is there is a possibility for a gap down tomorrow. Obviously it can gap down ,gap up or open flat . After the run and todays close I think a gap up is unlikely. When intraday trading I agree there is no room for thinking. The best success usually works with a strict set of rules not subject to interpretation. But as I said earlier I usually leave way too much on the table.
I did not like the tape was acting towards the close either. With the noteable execption of Dell breaking out of its trading range on good volume. This could become a leadership stock stock for the naz again. The election will defintely be interesting. My only open positon, Miami-Green Bay over 41.5.