A 70k bet that I can't make a 50% gain in 2009

02/25/09


Wed. a.m. : I'll be looking for at least alittle bit of follow through to yesterdays strong move. Still strictly in scalp(daytrade) mode, not looking for anything on a swing trade basis.
I will also keep my eye on gold(IAU GOLD) as it is pulling back and may set up a higher low on the daily charts, giving some good intraday buy opp's as well.

Good trading all!
 
Quote from geez:

02/25/09:


11:21 800 SPY BUY 76.21
STOP 75.96
TGT 76.71
More...

Still have a long bias after the strong move up yest.
Playing the higher low on the 5 min chart, after the 10:40 selloff SPY did a 100% retracement, then a small higher low. That's my entry point.
 
Quote from geez:

02/25/09:

13:33 600 SPY BUY 76.33
STOP 76.00
TGT 76.99
More...




Playing the 5 min higher low. SPY is not trending intraday, but I still have the long bias after yest. The TGT looks attainable, the next resistance at the top of the 11:45 bar.
 
Quote from Bonpara:

Hey sorry if i missed this being answered already but why trade the SPY and not the SSO for the leverage?
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I don't really need the extra leverage trading SPY or DIA because I am usually only in 1-2 trades at a time.
I like the way SPY and DIA give a little extra wiggle room on the stops compared to SSO and DDM, but they trade so similar that the set ups are the same ...I agree.
 
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