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Blotter

+$47 Had to run an errand and missed the greatest move of the day :mad:

By the time AIG came to my attention it had dropped quite a lot and I wasn't comfortable shorting it after that much of a move. I like trading ES and stocks, but still have a soft spot for stocks because it's what I've done for a year and a half. I've also made quite a bit of "sim" money...

My win % has been 100% with this method, but one strong trending move would wipe out a day's gain or more, so I'm still in "practice mode" for now. A few days of success doesn't mean that much yet, but a few more days of this kind of success and I think I'll be convinced. I've occasionally...

I attached all my ES sim trades in case you’re interested. As you can see I am very much a scalper, which is a recipe for disaster if I choose to use a 5 pt stop, although I don’t believe any of my trades even came close to approaching my stop. Net sim profit today was $428.90.

+ $64 While having my morning tea, I played with AIG in pre-market in my demo account. I bought when it was going up and took immediate profits, then I scaled into a loser as it dropped and took profits on the rebound. (I would never do that with real money, but it was a fun pre-market...

+$64 Just a couple live trades, still ES sim trading

I use 3 min charts and I only use stochs to guide exits and very occasionally entries in a range or a trending range. I actually didn't trade AIG today, though when it drifted down slowly after the first 2-leg run up and consolidated it looked like a good long and I'm still regretting not buying...

So far they work as long as I honor them and don't try something stupid :)

When AIG hit 42.85 this morning, it "went up too far" on an "over-reaction" to news. The indicator that indicated this was the %K stochastic (indicating "overbought"). The incredible usefulness of this indicator was rapidly demonstrated by AIG commencing to run to 45.40, where it clearly...

+ $83 Covered the after hours ANF short early off the round number bounce for +$84. Traded ANF a few more times looking for a stronger breakdown which never materialized: + $19 Shorted CL as it sat at the LOD, looking for a breakdown. I don’t usually have a lot of luck with LOD...

+ $83 Minimal live trading, mainly sim traded ES again today.

I looked at WHR for a possible put option play (the spreads are awful), but I figured price was going at least to $100 first. Isn't there a severe washing machine shortage due to all the dirty laundry in Congress? :D

RAH $60 calls looking good, too.

CAT 52.50 puts should be good at least for a ride back to the 20-day EMA (~ 48.00).

Jack, Less than an hour ago Mr. NoD, noticing he had a plethora of pistachios in the pantry, said to me, "I need a pistachio recipe." I absolutely am not making this up. He located a promising one as we enjoyed dinner: http://www.recipezaar.com/Pistachio-Soup-214279 Cordially...

You're putting on the trade pre-earnings? If it wasn't for the Tuesday pre-market earnings factor, I'd consider this a high probability trade, but the high short interest (~15%) could easily drive price into the next 63-67 resistance range on any positive earnings news.

I attached the ANF chart of my morning trades, and the nice reversal that went on all day, which I missed. This chart makes trend-following look so easy after the fact, but when one of the weakest, most overpriced stocks in a sector (Louis Navellier: D - Sell; P/E 60+) is trading near major...

How often in a given month do you actually get an order filled? Your method is intriguing, but seems tedious (the odds of your limited basket of stocks reaching your price in a single day are small) and somewhat risky. If a price were drop to your desired level in a single day, it would...

Understood. It's a Hail Mary play, and one where averaging into a loser is a kind donation to fellow market participants.