Margo's Swing Journal

[margo_trader]

John Q Public,

Before I answer, why don't you share something that might make me some $$$ tomorrow. I doubt that's possible. Come on smartass.....surprise me.....just give me 1 idea.

Quote from John Q Public:

Do you ever do those Short Skirt trades?

Do you have nice legs?

 

[margo_trader]

I'm taking a low risk short in this on a move up to or near resistance.....between $50.50 - $51.00.

 

[John Q Public]

Well I could be wrong, but CCU seems poised to break out higher.

It's your turn. You promised.

 

[margo_trader]

A bit late. I took a short in this today at $30.50. I'll cover 1/2 on a point or so push down from here with my stop set a few pennies above todays high. Still shortable on any bounce up to resistance.

 

[margo_trader]

You're going to have to come up with a better breakout setup that offers an acceptable risk/reward ratio before I answer. I don't know a SINGLE TRADER WHO MAKES CONSISTENt MONEY who would consider that a long. With the 200 MA almost on top of it......and declining....the smart money won't be there. Sure, it may pop over the 200 for a few days but it's very unlikely to stick. The SMART trade is as a short at the upper wedge line. Again, I'm thinking risk/reward.

Quote from John Q Public:

Well I could be wrong, but CCU seems poised to break out higher.

It's your turn. You promised.

 

[margo_trader]

the chart...by the way, what is a short skirt trade or is it a joke?

 

[margo_trader]

I'll short as close to $18.00 as I can.....small position and tight stop.

 

[John Q Public]

Quote from margo_trader:

You're going to have to come up with a better breakout setup that offers an acceptable risk/reward ratio before I answer. I don't know a SINGLE TRADER WHO MAKES CONSISTENt MONEY who would consider that a long. With the 200 MA almost on top of it......and declining....the smart money won't be there. Sure, it may pop over the 200 for a few days but it's very unlikely to stick. The SMART trade is as a short at the upper wedge line. Again, I'm thinking risk/reward.

Well you said something you could make money with tomorrow. I didn't know that you wanted to marry it. The shorter term charts show promise.

Speaking of promise, I guess you are going to break yours.

I'll bet you ware pants - baggy pants!

 

[margo_trader]

I've traded around this one for months. It's not the easiest out there. I'll take a small short on a rally up to trendline resistance....$85.00 - $86.00. Before it's over, I'll be surprised if it doesn't fade to the mid 50s.

 

[margo_trader]

Oh brother. As long as I'm trading against people like you, I know I'll always be in the game. Instead of focusing on my legs, I suggest focusing on your account. Someone out there is working RIGHT NOW.....trying to figure out a way to take it.

Quote from John Q Public:



Well you said something you could make money with tomorrow. I didn't know that you wanted to marry it. The shorter term charts show promise.

Speaking of promise, I guess you are going to break yours.

I'll bet you ware pants - baggy pants!