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A 70k bet that I can't make a 50% gain in 2009
- Thread starter geez
- Start date
4/21/09:
Trade Details:
11:31 QLGC SHORT 13.93
*QLGC gapped up and moved up thoughout the a.m.-I waited for the first sign of weakness to start looking short. The 11:10 bar on the 5 min chart takes out 3 prior green bars, followed by 3 small bars to form a lower high. I shorted below this (13.93), put my stop just above this lower high (14.07), and my target just above the last major pivot at 10:45 (13.63). Hit tgt.
1:17 SDS BUY 68.88
* SDS was moving down all mring , but I had a short bias, so I waited for the first sign of weakness in SPY(or strength in SDS), to buy. The 1 p.m. bar moves up (on SDS) and takes out 3 prior bars of selling, a sign of (some) strength. It follows by putting in a higher low at 1:15. I buy over the prior 5 min bar high (68.88), stop under the higher low (68.48) and target at the high of the 11:45 breakdown (69.68). This trade almost stopped me out twice, rallied hard close to tgt, so I moved my stop to b/e. Stopped b/e.
2:03 FAZ BUY 10.14
*FAZ is very similar to the SDS trade. It was in a downtrend most of the day, then put in a strong bar at 1:20, followed by a long sideways move, a sign of (some) strength. At 2:00 it puts in a small higher low and I buy over this (10.14), with a stop below the pivot (9.94) and a target of the 12:25 breakdown(resistance) 10.54. Hit tgt.
Trade Details:
11:31 QLGC SHORT 13.93
*QLGC gapped up and moved up thoughout the a.m.-I waited for the first sign of weakness to start looking short. The 11:10 bar on the 5 min chart takes out 3 prior green bars, followed by 3 small bars to form a lower high. I shorted below this (13.93), put my stop just above this lower high (14.07), and my target just above the last major pivot at 10:45 (13.63). Hit tgt.
1:17 SDS BUY 68.88
* SDS was moving down all mring , but I had a short bias, so I waited for the first sign of weakness in SPY(or strength in SDS), to buy. The 1 p.m. bar moves up (on SDS) and takes out 3 prior bars of selling, a sign of (some) strength. It follows by putting in a higher low at 1:15. I buy over the prior 5 min bar high (68.88), stop under the higher low (68.48) and target at the high of the 11:45 breakdown (69.68). This trade almost stopped me out twice, rallied hard close to tgt, so I moved my stop to b/e. Stopped b/e.
2:03 FAZ BUY 10.14
*FAZ is very similar to the SDS trade. It was in a downtrend most of the day, then put in a strong bar at 1:20, followed by a long sideways move, a sign of (some) strength. At 2:00 it puts in a small higher low and I buy over this (10.14), with a stop below the pivot (9.94) and a target of the 12:25 breakdown(resistance) 10.54. Hit tgt.