LULU stopped me out then comes roaring back up.. I will adjust my stop from now on giving it more room so I don't get stopped out all the time..
Real Time Update: I bought TIBX Entry: 29.50 Stop: 29.42 Market looks crap but LULU is stable so I wanted to give this stock a shot.. Again, tight stop cause I'm just very weary of this market right now.
Mrmidnight, I don't use economic data as a guide just because I'm a daytrader so my trading is very short term.. Unless of course it's big economic release such as Fed then I pay attention.. What I use as a guide is pure technical charting.. More of my problem though is emotions.. Like today, I knew the market is crap yet I still bought stocks.. That's what I struggle with..
Market Recap: The bulls did not follow through from yesterday which was what I wanted them to do.. This means that the bulls are not in control any more.. It doesn't mean the bears are in control either. We are now in the middle ground meaning anyone can take over.. SNP 500 has a support on the 20MA at 140.18.. Watch for that carefully tomorrow.. A break below that number is a big red flag.. For tomorrow, I have stocks to go long and I also have stocks to short. This shows you that I don't know now where we are headed now.
Real Time Update: It's 9:00 est. We are gaping down close to the SPY 20MA which I have mentioned yesterday.. I can't imagine the market not bouncing there so watch out for that bounce. Be careful out there and wait for a good set-up before you enter.. Believe me, I know it's easier said than done..
Real Time Update: I bought IBM Entry: 194.39 Stop : Break-even I have actually already bought this earlier and got stopped out for a 40 cent loss.. Tried it again and this time it's working..
Real Time Update: I bought NOV Entry: 76.45 Stop: 76.18 Hoping for a bounce here just like what I did with IBM.. I do hate the weakness of the SPY bounce but hopefully it get going..
Please don't trade the stocks I post here: This is meant as a journal and only to educate you if you think it's valuable. I don't want to be responsible of you losing any money..
Real time Update: Look at what happened today.. The market bounce from the 20MA then ferociously moved higher.. This was what I was expecting and I capitalized on it..