probalby should have taken a small profit on CLX when I had the chance, but I think it may come back. if not I'll sell when it gives a reversal signal.
Learning to read Price Action with P&F Charting
- Thread starter HolyGrail
- Start date
how many shares are you trading Nhaupt?
shorted the following today.
APH @ 33.00
MEOH @ 16.25
NFG @ 34.92
PWR @ 18.51
http://stockcharts.com/def/servlet/SC.pnf?c=APH,PLTADANRBO[PA][D][F1!3!!!2!20][J152821826,Y]&listNum=31
http://stockcharts.com/def/servlet/SC.pnf?c=MEOH,PLTADANRBO[PA][D][F1!3!!!2!20][J152821827,Y]&listNum=31
http://stockcharts.com/def/servlet/SC.pnf?c=NFG,PLTADANRBO[PA][D][F1!3!!!2!20][J152821828,Y]&listNum=31
http://stockcharts.com/def/servlet/SC.pnf?c=PWR,PLTADANRBO[PA][D][F1!3!!!2!20][J152821829,Y]&listNum=31
shorted the following today.
APH @ 33.00
MEOH @ 16.25
NFG @ 34.92
PWR @ 18.51
http://stockcharts.com/def/servlet/SC.pnf?c=APH,PLTADANRBO[PA][D][F1!3!!!2!20][J152821826,Y]&listNum=31
http://stockcharts.com/def/servlet/SC.pnf?c=MEOH,PLTADANRBO[PA][D][F1!3!!!2!20][J152821827,Y]&listNum=31
http://stockcharts.com/def/servlet/SC.pnf?c=NFG,PLTADANRBO[PA][D][F1!3!!!2!20][J152821828,Y]&listNum=31
http://stockcharts.com/def/servlet/SC.pnf?c=PWR,PLTADANRBO[PA][D][F1!3!!!2!20][J152821829,Y]&listNum=31
Yea I had a feeling early this morning that they might go the wrong way today.
Turned on Cramer last night and he was just getting done recommending buying PWR. I didn't know wether to get out or double up on it.
but he was right for the short term, it really went up this morning.
He also recommended KMP, another one I shorted but got out of a couple days ago for a good profit.. It really went up also. Will be interesting to see if they continue up or go back down.
Still having trouble knowing when to take profits. did good on KMP, but left a lot on the table with OKE and NXY.
Turned on Cramer last night and he was just getting done recommending buying PWR. I didn't know wether to get out or double up on it.
but he was right for the short term, it really went up this morning.He also recommended KMP, another one I shorted but got out of a couple days ago for a good profit.. It really went up also. Will be interesting to see if they continue up or go back down.
Still having trouble knowing when to take profits. did good on KMP, but left a lot on the table with OKE and NXY.
Really screwed up on TMO. Tried to short it at 46.05 limit when it was at 45.95 instead of shorting it at market. Watched it drop $2 in an hour. and I never caught up with it. Maybe I can sell it on a pullback tomorrow.
http://stockcharts.com/def/servlet/SC.pnf?chart=TMO,PLTADANRBO[PA][D][F1!3!!!2!20]&pref=G
PHG hit my target of 22 so I closed that trade.
http://stockcharts.com/def/servlet/SC.pnf?chart= phg,PLTADANRBO[PA][D][F1!3!!!2!20]&pref=G
http://stockcharts.com/def/servlet/SC.pnf?chart=TMO,PLTADANRBO[PA][D][F1!3!!!2!20]&pref=G
PHG hit my target of 22 so I closed that trade.
http://stockcharts.com/def/servlet/SC.pnf?chart= phg,PLTADANRBO[PA][D][F1!3!!!2!20]&pref=G
Closed all my trades today.
APH @ $29.00
MEOH @ 13.50
NFG @ 29.00
PWR @ 17.25
Probably could have taken more today, but have to be gone next week, so I wanted to get out with a decent profit.
I realize a monkey could have thrown darts at a list of stocks and got a better % shorting, but to be able to make a profit whichever way the market goes is a whole new realm to me.
Unfortunately, CCIX, TSCO, CLX and MINI kicked my butt when I was foolish enough to try going long in this market. At least it was an inexpensive lesson.
Does anyone else care to show some of their trades using pnf? And why the took them?
My biggest problem is getting out of a bad trade. I'm taking too big of a loss before I get out.
Enclosed are my other trades
MINI bought 24.75 sold 18.01
TSCO 44.15 37.24
CCIX 13.09 9.10
CLX 62.84 54.00
LSR 34.82 35.32
NXY short 22.70 closed 20.20
BLL 41.52 38.50
OKE 33.98 29.34
KMP 52.86 42.86
PHG 27.25 21.99
Long trades were all a week to two in duration and short trades were a couple days in duration.
All the shorts were taken after they fell below the support line. I left a lot on the table on the first three I took (NXY, BLL and OKE)
My biggest problem is getting out of a bad trade. I'm taking too big of a loss before I get out.
Enclosed are my other trades
MINI bought 24.75 sold 18.01
TSCO 44.15 37.24
CCIX 13.09 9.10
CLX 62.84 54.00
LSR 34.82 35.32
NXY short 22.70 closed 20.20
BLL 41.52 38.50
OKE 33.98 29.34
KMP 52.86 42.86
PHG 27.25 21.99
Long trades were all a week to two in duration and short trades were a couple days in duration.
All the shorts were taken after they fell below the support line. I left a lot on the table on the first three I took (NXY, BLL and OKE)
Same here, lower size trades make it more fun and with less pressure, I can see a little more clearly.
On the short sales, something just clicked when yayt mentioned a long way to move on NFG down to 28. Looking horizontally across the chart, one can see support at that price.
I know I read that before, and wrote it down somewhere to take that into consideration, but sometimes it just doesn't stick in ones mind till he uses it some.
On your trade, looking back to 04 and 05, one can see support at $7.00 so I'm guessing you took profit at the right spot.
Its amazing looking back how many of my stocks went down to a level of support from earlier periods and went back up from there.
Have fun, I'm gonna be out of it next week. Thankfully, cause right now I think it could bounce around and go quite a ways in any direction.