A 70k bet that I can't make a 50% gain in 2009
- Thread starter geez
- Start date
Mike,
First, thanks for following the thread. I hope it is helping you out.
Second, you are correct that the patterns I take are VERY simple and will work on any stock or index. I guess it just depends on each traders taste. I like have alittle more wiggle room on my stops w/ SPY compared to SSO, but all in all they are exactly the same.
02/26/09
Thurs a.m.:
Markets still look unsure which way they want to go based on the daily charts...still stuck in the base.
With the morning gap up I will look for stocks acting weak to possibly short at the first reversal. Also, if we tank right out of the gate, I'll see if any stocks are staying strong to buy at the 1st reversal.........
Not a very good interpretation of the market, I know....but you can only take what the market gives you.
It'll be nice to get a trending market at some point, to make this bet alittle bit easier!!
Good trading all!
Thurs a.m.:
Markets still look unsure which way they want to go based on the daily charts...still stuck in the base.
With the morning gap up I will look for stocks acting weak to possibly short at the first reversal. Also, if we tank right out of the gate, I'll see if any stocks are staying strong to buy at the 1st reversal.........
Not a very good interpretation of the market, I know....but you can only take what the market gives you.
It'll be nice to get a trending market at some point, to make this bet alittle bit easier!!
Good trading all!
This is a lower high set up on the 5 min chart, and RIMM is weak compared to the QQQQ. The daily chart is weak too and after a 2 day rally, then a gap up RIMM is a good short watch for me. But it is higher risk(per my plan) because the SPY and DIA are holding well this morning and look like they may set up to go higher. I may tighten the stop if that happens...we'll see how it plays out.
Does the insight help?