Puddles,
- After 3 bars, SPY tried to retrace from itâs opening selloff, TEVA did not participate
- Geez and I were going to take the TEVA lower high around 10:30..
- I accidentally cancelled my entry and realized it too late to get any part of the trade
- TEVA sets up again and I take it...
I like the rel weakness of WFC but it never gives me a setup (on the 5 min chart)that I would take. It has 3 bars down and no pullback up (no green bars) I would either wait for this to base and short the break of that or wait for a lower high to set up.
You were right on picking the bank...
Not sure what candle you mean DT3....I'll let hotpuddles put a chart in first and show where we enter, that may help. But if I am shorting I enter as soon as the prior bar is broken. Like RIG at 11:05, once the .75 breaks the .76 of the prior low, I enter.
10:30
LONG ARUN 12.51
STOP 12.44
TGT 12.65
- Both ARUN and SPY gap down but head higher
- As SPY puts in 4 red bars retracing ARUN holds strong
- Buy over the tight bar on ARUN as SPY turns
- 3 bars of weakness take out my stop then ARUN makes it's slow move back up to my target...
I have 5 charts up at a time. 1 is dedicated to the futures, I use 1 or 2 for stocks that I am keyed in on for that day and the other 2 for flipping through stocks on my watch list.
To maximize screen pace I minimize my P/L, order entry bar & open orders, account info..etc.
Sigh, my 15 minutes of fame are over..its all Puddles this, Puddles that,
Puddles, Puddles, Puddles now!!!
(Nice trading dude, glad to see when everyone was trying to find longs today you were eyeing the overall weakness)
9:49 SHORT CELG 59.07 filled 59.11)
STOP 59.21
TGT 58.91
- CELG weak vs. SPY from the open onwards
- take lower higher
- no dice..
go flyers.. [/B]
I think this first CELG entry is a 10...great setup, just didnt work.
Sigh..and look where CELG goes!
Glad I re-shorted on the next lower high!!
Maybe the 5 min heads up that I was going to short it wasnt enough for you?
hehe
Still, nice day hotpuddles! Keep it up!
OK Puddles..this guy is GOOD!
I would wait for a sign of strength FIRST....if this is a stock you really want to get long wait to buy over first higher low and I like that 11:15 higher low.....ummm, just like JScott said.