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AIPC hit 52-week high last week. Gapped from 16.50 to 19.70 on surpassed earnings, and with a 27% short interest I am guessing it sparked quite a squeeze, continuing its run all the way to 24.59 from the gap in 2 days, so I'm anticipating a pullback soon. Looking to short based on expected...

Where would Neke be today had he taken this advice back on July 12th?

K.I.S.S. - what I see in these charts is a classic move: If it pulls back and pivots at a higher low, you'll catch a nice bounce.

Oso, just come right out and tell it like it is: True pain is saying, "Wow, BIDU's about to hit $100!" and not trading it to the long side :p :D :p

Ha! If you listen to all the talking heads and ANAL-ysts, bear markets ignoring bad news is the sign of full recovery in the market. Yeah, right.

Neke, nice job building your account. The option spreads on a stock like CME are usually rather large. Does the spread affect which strike price you plan to trade? Also, how do you choose where to price your bids and offers, at market, or do you pick a price somewhere in the middle?

+ $112 I tried out some strategies today, racking up commissions and making Etrade happy. None of my usual suspects were setting up this morning so I watched the hi/lo ticker and MSFT caught my attention on the lo ticker. I never traded MSFT, so I took a quick peak at the 30-day chart and...

+ $112 Experimenting a bit today gave my broker some extra commission $$, but at least I learned something :cool:

+ $214 Planned to short AMGN on open, but didn’t get in quick enough, so I shorted it @ 57.94 while it moved in a narrow range between 57.75 and 58.00, looking for a .20 cent move. Placed target @ 57.74, which was filled for a $100 gain. Playing around with POT again. Shorted a small...

+ $214 Again, left five times my profit on the table. I can pick them, but I can't yet trade them :eek:

Hey, nice trade, enjoy! I left money all over the table today :eek:

Trend line on the 30-day chart shows GMXR ready to reverse course, but if you're trading intraday who cares.

You are absolutely right. Each test of resistance actually weakens the ceiling, and any break through after a 3rd test is definitely a strong long signal. I was simply not paying attention to all the variables at the end of the day. Gotta stay focused!

What I meant is that many traders reverse their position when stopped out. So if you're long a stock near its LOD and it breaks down the LOD and hits your stop, many traders would then short the stock, assuming that such a breakdown means further to fall.

- $181 Shorted HIG @ 16.20 after it established a high around 16.40, tested it twice and reached overbought stochastics and stalled. Could’ve taken a tiny profit but my plan was to have a stop at 16.50 and watch what transpired. It climbed to 16.40 yet again (I was surprised it would reach...

- $181 Good learning experience today despite giving up nice profits. Chart analysis of the costly mistake is posted on my journal, NoDoji's Day Trading Log.

Yes, that's my personal preference.

That's a pretty common strategy.

You don't know it's the low of the day until the price rises (pivots), falls back but not as low as 97.21, then rises again. At that point you've pivoted off a slightly higher low, can go long and set your stop just below the LOD, giving you a very limited loss if stopped out. I also use...

You can also short stocks in IRAs by purchasing puts, which gives you great leverage and very limited risk.