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A 70k bet that I can't make a 50% gain in 2009
- Thread starter geez
- Start date
Quote from Robert Weinstein:
Nice trade and great timing!!
I see DIA went just past your target and then fell back down again. Its as if you mentally moved the price up until it reached your target : o )
Have a great weekend and best to you next week
Robert
Thank You Mr. Weinstein,
Between you willing it there, Jeg poking it, Nodoji 's evil stare and forsalenyc buying the crap out of it.....DIA got to the promised land...lol
Quote from geez:
Here you go Hossa,
This is the actual time stamp of the trade when I posted it, and I screwed up the number here too, but TraderD is right....
82.96 Entry
83.36 Tgt.
Also attached is the chart of my entry and tgt from 6/16.
As, Mr Weinstein can tell you from watching me trade in real time, sometimes my typing is a little "off".....
Blah Hossa...case in point , I screwed up the number in the chart that I posted .....this one is better.
Attachments
Quote from srmccoy:
I'll take a crack at trying to summarize the 4 trading patterns and today's setups. Mr. Geez trades 4 chart patterns:
Four Trading Patterns:
(1) Market weak, stock has good relative strength, buy the dip: If the stock moves lower buy over the first green 5 minute bar it makes (1st reversal). If the stock is basing, or pulling back just a little, buy it as soon as the market starts to reverse to the upside (usually 20-30 min after the open).
(2) Market strong, stock has weak relative strength, buy the dip: On a multi-day move down and then a big gap down on the daily chart, wait for the first higher low to buy.
(3) Market and stock extended, short the gap: Because of the indexes being extended and the gap up I look to get into shorts aggressively. Anytime I see a gap up after a multiday run up I am looking to get short. I'm looking to short any rally on the 5 minute chart as long as that rally doesn't go past (higher) than any prior pivot highs (showing strength again). When a stock is extended and the day before had huge buying after a multi-day rally and closed at the highs. I really like this for a day trade the next day. I expect people who have been long in this stock to take profits after that kind of move so the next day I look be aggressive in shorting it.
(4) Market strong, stock weak, short the prior pivot low: Watch a stock with relative weakness when the market has gapped up and moved higher. As soon as the market starts to make a reversal, or the weak stock breaks a prior pivot low, short the stock. I look for stocks that are getting extended in either direction and use either a 1 or 2 minute high (if going long) or low (if going short) as an entry.
Hi Geez,
I've just got done reading through your journal up to today and its been a great read and learning experience.
You stated in some of your earlier posts that there are 4 basic patterns that you look for...are the ones that srmccoy posted above a few weeks ago the patterns that you were referring to? Did he get them right or are there other things that you look for as well? Thanks for your help.
S.