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

<img src="http://puddles.humanfund.ca/20100511/spy.png">

<img src="http://puddles.humanfund.ca/20100511/crus.png">

<img src="http://puddles.humanfund.ca/20100511/bax.png">

10:13

LONG CRUS 13.2
STOP 13.1
TGT 13.4

- CRUS opens very strong, looking at the daily it looks like it could continue to retrace up
- Cramer pumped the hell out of this stock last night (don't ask why it was on in my house, i'm not a usual viewer)
- SPY had been slowly retracing since the open, take a nice tight lower high
- out +0.2

10:26

SHORT BAX 45.5
STOP 45.59
TGT 45.32

- No real opinion on the daily
- BAX opened weak just like SPY but continued down as SPY retraced
- Short under the lower high looking for continued weakness
- out -0.1
 
LONG CRUS 13.2
STOP 13.1
TGT 13.4

- CRUS opens very strong, looking at the daily it looks like it could continue to retrace up
- Cramer pumped the hell out of this stock last night (don't ask why it was on in my house, i'm not a usual viewer)
- SPY had been slowly retracing since the open, take a nice tight lower high
- out +0.2





you watched cramer over GLEE??
 
I feel like I got lucky today...puddles, geez or jscott your comments and insight would be helpful.

Market started out up, CNX was down, then hit a little "double bottom", and I bought in after the first green bar(as seen on attachment). With the bouble bottom, and gap from the opening, I thought this might be a reversal, so I took it. Is this a decent strategy or was I gambling? It made sense when the trade happened but after looking at the overall day, I am not sure if I made the right call and just got lucky.

Feel like I probably shouldnt have taken it beause the stock was weak compared to the SPY, but the double bottom and overhead gap convinced me to take the chance. I won the trade but feel like maybe it didnt make sense(if this makes sense)

Thanks and sorry for posting on of my trades on your threads, but you guys have helped me learn and I value your opinion.
 

Attachments

Quote from Softgiant:

I feel like I got lucky today...puddles, geez or jscott your comments and insight would be helpful.

Market started out up, CNX was down, then hit a little "double bottom", and I bought in after the first green bar(as seen on attachment). With the bouble bottom, and gap from the opening, I thought this might be a reversal, so I took it. Is this a decent strategy or was I gambling? It made sense when the trade happened but after looking at the overall day, I am not sure if I made the right call and just got lucky.

Feel like I probably shouldnt have taken it beause the stock was weak compared to the SPY, but the double bottom and overhead gap convinced me to take the chance. I won the trade but feel like maybe it didnt make sense(if this makes sense)

Thanks and sorry for posting on of my trades on your threads, but you guys have helped me learn and I value your opinion.
More...

i try to stick to a rule where i'm not going long anything unless it shows intraday strength. Being red on the day is generally enough to talk me out of it unless it's showing nice rel strength to the market.
 
Quote from puddles:

i try to stick to a rule where i'm not going long anything unless it shows intraday strength. Being red on the day is generally enough to talk me out of it unless it's showing nice rel strength to the market.
More...

As part of my plan, I do not go long until a higher-low is put in after a trendline break, so I personally would have entered on your chart at the next higher low if the market was in tow.

JS

p.s. fwiw ... If your setup is a DB and a gap up (rare find), then go for it, but I'd be very consistent and picky as laid out in your trading plan.
 
Quote from JScott:

As part of my plan, I do not go long until a higher-low is put in after a trendline break, so I personally would have entered on your chart at the next higher low if the market was in tow.

JS

p.s. fwiw ... If your setup is a DB and a gap up (rare find), then go for it, but I'd be very consistent and picky as laid out in your trading plan.
More...

OK Puddles..this guy is GOOD!
I would wait for a sign of strength FIRST....if this is a stock you really want to get long wait to buy over first higher low and I like that 11:15 higher low.....ummm, just like JScott said.
 
Quote from geez:

OK Puddles..this guy is GOOD!
I would wait for a sign of strength FIRST....if this is a stock you really want to get long wait to buy over first higher low and I like that 11:15 higher low.....ummm, just like JScott said.
More...

I can't believe you're posting while glee is on.
 
thanks all...it wasnt consistant with my plan, but I liked the setup due to the gap...It was a 50/50 play and I feel I gambled...I'll work on sticking to the appropriate text book setups
 
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