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Absolutely! I have no desire for "stuff & things", but a big desire for time! Although I trade full time, I make plenty of time for fresh air and sunshine, lots of home cooking, live music, soccer, fun with friends, good movies. And during trading hours I find the ET community to be smart...

Mad, I think profit targets are important because it means you entered the trade with a plan on a meaningful setup. But overall market movement and Level 2 action sometimes dictate an earlier or later exit, and it's wise to listen to their message.

Thanks for your warning, Bob. I am much more careful now than I was even a month ago. When I trade a stock that's not close to a major long term S/R level, I set a tight stop (shorting DRI below 29.00 for example). And now, when I short these stocks that are overbought near 52-week highs, I'm...

Ben, it was very wise of you to take some profits when presented before earnings, because you never know what can happen. I watched FSLR after hours yesterday and first they announced record earnings and the price went to 144, then suddenly they started talking 2009 guidance and poof, below 120!

Nice work, geez. Is your friend getting worried? :cool:

+ $267 I’m sure I’m not the first person to say: “Trading is one of the easiest and hardest things you can do.” Yesterday in chat I called MVL as a strong swing short and someone asked my why. I explained it was up on strong earnings due to Iron Man DVD sales, opened on a huge gap...

+ $267 Red_Ink, the fact that someone as largely and consistently profitable as you can leave lots of cash on the table makes me feel a bit less of an urge to hit myself on the head with a hammer :D I called trades to my husband today and he made $840 on my calls. So I've decided what I...

No connection for me either.

Mad, you are silly! Bos, I've been there more than once! Last year I put in a limit order for CLF, canceled the order later and didn't know I got a partial fill before I canceled. I looked at my portfolio several days later and there was CLF to my dismay. It had dropped from my entry price...

+ $378 Short ORLY @ 32.70 using market order on open. It hung there a while and I was worried I might end up with serious slippage, but actually got a few cents in my favor once all said and done. I was distracted and missed a nice oversold exit and opportunity to short again. Covered later @...

+ $378 Holding a couple overnights.

Trading HOTT is like going to the gym. I have to do it regularly to help build up my "patience maximus" muscles :p

I will tell you what to do, but I have trouble doing it myself! When you are shorting in a down market with no good news in sight and your position becomes profitable, place a stop @ b/e and don't look at the chart till an hour before the close :D

+ $531 Short DRI @ 28.86, overbought. After much ranging, it took a dump and I covered @ 28.25 on the pivot from oversold for a $253 gain. Offered 9.15 HOTT. My first inclination was to offer 9.10 which was the HOD and that inclination was the right one, because it hit 9.11 and dropped off...

+ $531 HOTT and DRI in Tucson again, and I covered too ORLY :p

Port, I read all that stuff already. MrStocker, thank you, that is info I did not have, and clarifies the depth of the selloff. LEAP, nice work from November lows; that's exactly what I did with DRYS from 3.48 in November. After reading MrStocker's link, I'll watch this one one...

I see estimated 2009 earnings at 5.62, over twice 2008 earnings. However, recent concerns about HIG's exposure to 2006-2008 mortgage-backed securities sparked a panic selloff recently. From a purely technical standpoint HIG is quite oversold, but remains ugly on the daily chart and seems to...

No doubt! But I feel so much safer shorting tops in a bear market :p Thinking AZO will double because it broke slightly to all-time highs carrying a large short interest into earnings seems a bit naive. If the OP had made this statement in the midst of a bull market, I'd say full steam ahead!

??? :confused: ??? This sentence implies that short term traders using pivots to enter trades will only be successful if they have major drawdowns. Isn't "success" the goal of trading? Does "pivot" mean something different than I think it does? My intraday trading is based almost entirely...

Spot on. AZO and ORLY had nearly 10% short interest coming into ORLY's earnings and subsequent gap. I've played ORLY intraday to the short side since then and once the covering stops propping it up, I'll likely take a longer term short position. These mini-bubbles off earnings happen...