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Dgabriel's Swing Journal
- Thread starter dgabriel
- Start date
This is setting up a bear flag. Yesterday it dipped below the prior day's low. Only to reverse and nail any short sellers or shake out weak hands.
But the high volume selloff last week and gap down probably has not exhausted itself yet, so I would watch this for a continuation down. It looks like it may take a couple of days for short entry.
But the high volume selloff last week and gap down probably has not exhausted itself yet, so I would watch this for a continuation down. It looks like it may take a couple of days for short entry.
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I entered this today and I had this flagged in my database from my own scans last night but failed to post here. I won't do this again because I think posting after the trade without having posted the setup before has less credibility, but it's a nice setup and execution so here it is. I Had an alert set for 33.86 and went long at 34.10. I waited because it has little volume. THe price movement is nice but the small volume concerns me a little.
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Today went reasonably well. I sold out the SSYS in two lots 1/2 at premarket at 45.75 and the other 1/2 on a stop at 45.80 for a net gain of 2.775
I tried the OVTI intraday short but got in too late at 56.19 and sold for a .20 loss at 56.39
FLML was flighty and I covered 1/2 of the short at 24.80 for a .07 gain and the other 1/2 later after it settled down at 24.28 for .59 gain.
NVEC blew thorugh the roof today. I was watching it in the pm and noticed that it was firm and holding most of the day showing high RS and I thought that it would soon ( in a few days) make the right side of the cup (in fact in did a C&H within a larger C&H) but to my surprise when I checked it an hour later it was up 2 points. I sold at 43.11 for a 2.96 gain. I discovered they had presented at a tech conference this morning and I figured someone was anxious to get in or to cover a short. Anyway, it was so strong I re-entered at 43.80 and it closed at 44.22.
PRTL which I mentioned yesterday as a continuation at 10.50 was strong today, but I had to leave the office for a couple of hours just as it was approaching the trigger point and so I could not trade it. Unfortunate because it added 1-1/2 points before retracing some. Huge for a stock at 10-11.
CSL triggered but volume was weak so I passed on it.
I haven't scanned much for tomorrow yet. Good night.
PS, NTES is bleeding terribly but is likely to have a vicious bounce soon. I am watching this closely.
PPS, Long ATRS 34.10, stock closed today at 34.63. see prior post
I tried the OVTI intraday short but got in too late at 56.19 and sold for a .20 loss at 56.39
FLML was flighty and I covered 1/2 of the short at 24.80 for a .07 gain and the other 1/2 later after it settled down at 24.28 for .59 gain.
NVEC blew thorugh the roof today. I was watching it in the pm and noticed that it was firm and holding most of the day showing high RS and I thought that it would soon ( in a few days) make the right side of the cup (in fact in did a C&H within a larger C&H) but to my surprise when I checked it an hour later it was up 2 points. I sold at 43.11 for a 2.96 gain. I discovered they had presented at a tech conference this morning and I figured someone was anxious to get in or to cover a short. Anyway, it was so strong I re-entered at 43.80 and it closed at 44.22.
PRTL which I mentioned yesterday as a continuation at 10.50 was strong today, but I had to leave the office for a couple of hours just as it was approaching the trigger point and so I could not trade it. Unfortunate because it added 1-1/2 points before retracing some. Huge for a stock at 10-11.
CSL triggered but volume was weak so I passed on it.
I haven't scanned much for tomorrow yet. Good night.
PS, NTES is bleeding terribly but is likely to have a vicious bounce soon. I am watching this closely.
PPS, Long ATRS 34.10, stock closed today at 34.63. see prior post
Indicies are near highs and I don't see an edge one way or another, but they are somewhat 'overbought'.
I am looking at several candidates long and short.
Homebuilders look like they started a correction on friday with big volume large range moves down after extending well into historic highs the last month. I won't bother to post charts but I will consider the following for short entries this week:
WLS, SPF, RYL (got really whacked friday), PHM, HOV, BZH, LEN (below 90), KBH, DHI, and MDC
My feeling is that the rats may be jumping ship and Monday may be another stab down. Anyone who has traded these stock on an intraday basis knows that they can be volatile and thin, but can also run well.
For the rest see the individual posts.
I am looking at several candidates long and short.
Homebuilders look like they started a correction on friday with big volume large range moves down after extending well into historic highs the last month. I won't bother to post charts but I will consider the following for short entries this week:
WLS, SPF, RYL (got really whacked friday), PHM, HOV, BZH, LEN (below 90), KBH, DHI, and MDC
My feeling is that the rats may be jumping ship and Monday may be another stab down. Anyone who has traded these stock on an intraday basis knows that they can be volatile and thin, but can also run well.
For the rest see the individual posts.