Spydertrader's Jack Hershey Equities Journal II

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Quote from Spydertrader:

I hope you washed before that "quick drop" kicked into high gear.

- Spydertrader
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it hit my stop and sure thing went right back up...


I'm seeing some good action on NGS and CKCM... some volume signs on the 30 minute chart... both are in Dry Up...
 
Quote from 4XIS4U:

it hit my stop and sure thing went right back up...


I'm seeing some good action on NGS and CKCM... some volume signs on the 30 minute chart... both are in Dry Up...
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:D ouch... CKCM just went nuts....

<img src="http://www.elitetrader.com/vb/attachment.php?s=&postid=1058993"></img>
 

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Yep, I just took the opportunity to bail outta the CKCM position I took like 2 weeks ago. A small loss for me so I'm happy.

CKCM's volume for the day is very low compared with its average volume. I'm not sure how much to read into this.
 
Quote from stevegee58:

I'm not sure how much to read into this.
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Read: "I got lucky as hell to escape with a small loss, and I will never hold another loser for two weeks again!" :D

Of course, your mileage may vary.

- Spydertrader
 
Quote from stevegee58:

Yep, I just took the opportunity to bail outta the CKCM position I took like 2 weeks ago. A small loss for me so I'm happy.

CKCM's volume for the day is very low compared with its average volume. I'm not sure how much to read into this.
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I agree that the volume is very low compared to its average... I just moved my stop to break even... based on the closing action today and where the QQQQ is positioned we might have a good up day tomorrow... who knows?? we'll take whatever we get I guess... :p
 
I still hold CKCM, but I totally agree with Spyder's sentiment... I should have bailed a long time ago... that and a disatrous position in ENG last week, and April was a very bad month.

CKCM is in the pre earnings "holding pattern"... lets see what happens.... maybe more covering and spec buying?
 
Quote from chapper:

I still hold CKCM, but I totally agree with Spyder's sentiment... I should have bailed a long time ago... that and a disatrous position in ENG last week, and April was a very bad month.

CKCM is in the pre earnings "holding pattern"... lets see what happens.... maybe more covering and spec buying?
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And of course, ENG showed signs of life today;however, action was crummy going into the close so I'm guessing not much will happen tomorrow.

Doug
 
One of my many failings is that I become wed to positions. I'm gradually learning to not get attached but let the losers go and not look back. Just take the losses and keep your head down waiting for the next opportunity.

I'm one of those guys who keeps old losses on a quotetracker watch list so I can torture myself when they turn around.
 
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