Umm, a journal

Back in long CHKP @ 13.20

 

An ugly morning for me, entries were just about horrible across the board. Someone once wrote xecution is 80% of the trade, prognostication 20% -- applies especially to first hour of trading.

 

Add to SYMC short @ 31.22

 

Pair trade with Long CHKP/short SYMC started out a real dud. Letting my read on the daily chart win over direct contary evidence -- not good so far, but for trades initiated off daily chart ought to have more room to work.

 

if you are looking to go long a large cap tech check out EMC.

 

Missing some decent, lower risk opportunities as I sit with my 3 mediocre positions -- always need to remind myself to be patient, wait for more optimal setups.

 

EBAY for one, a weak divergence @ 11:45 right above low of days is always a decent setup.

 

NQ carving out a little H&S pattern, 987 a level to watch; secondary biotechs continue higher.


Thnks for the EMC tip, but usually don't trade any NYSE.

 

Lifting half unit each on the pair, sold 1 unit CHKP @ 13.80, covered 1 unit SYMC @ 31.15.

 

Sold out of MLNM @ 9.37, other biotechs are acting much better and I may look to get long again, but seems like this mornings pain just wasn't enough yet.