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

<img src="http://puddles.humanfund.ca/20100624/spy.png">

<img src="http://puddles.humanfund.ca/20100624/jcg.png">

<img src="http://puddles.humanfund.ca/20100624/fe.png">

<img src="http://puddles.humanfund.ca/20100624/apc.png">

<img src="http://puddles.humanfund.ca/20100624/tgt.png">

9:40

SHORT JCG 39.5
STOP 39.7
TGT 39.1

- JCG was on my short watch list due to a good daily
- JCG weak from open just like SPY
- Look for a setup on the 2minute chart
- Short under the lower high at LOD
- out +0.4

10:02

LONG FE 36.49
STOP 36.38
TGT 36.71

- SPY sold off for the first 30 minutes of the session
- FE was up and holding, fantastic relative strength
- Long over the tight higher lower
- out +0.22

14:01

SHORT APC 36.72
STOP 36.91
TGT 36.34

- SPY moving up between 1-2pm
- APC moving downward between the same period
- Nice tight lower high sets up, short under it
- As more lower highs set up on the next bar and 3 bars later i move my stop down
- I was looking to add under .50 but that never occured. I should have waited for an add before moving my stop
- out +0.07.

This would have gone to target had i just moved my stop to b/e at the appropriate time. Lesson learned, don't move stops unless I'm adding or it's to B/E.

14:43

SHORT TGT 51.11
STOP 51.19
TGT 50.95

- TGT didn't really participate too much in the 1-2pm rally, heads down from 2pm onward along with SPY
- Look for an entry along with continued market weakness
- Short under the lower high..
- Ticked out the next bar then target in 25 minutes.
- out -0.08

http://puddles.humanfund.ca/wp/2010/06/24/2010-06-24-trades/
 
Quote from puddles:

SHORT JCG 39.5
STOP 39.7
TGT 39.1
More...

From the chart it looks like this one made a .70 move from the opening high to the pivot point off which you shorted. Why not target a similar move down for the 2nd leg (around 38.85), since 2nd legs of a trend are usually similar to the first leg (measured moves)?
 
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