Spydertrader's Jack Hershey Equities Trading Journal III

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wasn't SNCR in dryup when we did the check on sunday? and it didn't exceed dryup on monday. do we check previous day's dryup also for signals?

i did get into sncr, but for me it was more because the stochs was moving up like a bruno.... although it started not all the way at the bottom but near the 30 or so range... also, it broke the short term down channel i had drawn and hopefully will traverse back to the top of the intermediate up channel.

i'm also in BITS
 
I'd say SNCR looks ok right now. PRV says it'll exceed yesterdays by a bunch, maybe end up around .8-.9 avg. Increasing price and increasing volume is goooood. :)

FWIW - I would watch the SP-500 and watch for any hard breaks down in the last hour, and watch SNCR on the 30 min. If you've owned it for a couple of days and are up 5-8%, and the slow sto breaks down below 80, I'd say bail, in the interest of capital preservation. Especially in this market... Remember, another train will be a'comin'....

Bits looks ok too, but I'd be a little leery of owning it right now after that HUUUUGE gap down a week ago. Also, daily volume is decreasing, but what that means with the gap and giant volume.... I have no idea. Oops, I see right now the slow sto on the 30 min is around 40, but the S&P is up ....:eek:
 
i got out of BITS by mistake.. i wanted to set a stop order at 7 dollar since i got in at 17.18... but instead i used a limit by accident and it got me out at 7.07 :(

stupid mistake on my part .....
 
Quote from chiefraven:

i got out of BITS by mistake.. i wanted to set a stop order at 7 dollar since i got in at 17.18... but instead i used a limit by accident and it got me out at 7.07 :(

stupid mistake on my part .....
More...

I don't know that I would agree. I type like s*** and make all kinds of mistakes. Don't dwell on it....

I would consider it a wash trade and move on.

Using beginner methods, it looks like it was the right thing to do, if you were trading 'manually' . On more advanced methods, it was just below the bottom of an upchannel, so you might have sold it too.


Next trade....
 

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Ok, sorry I didn't post this in real time. I took a 1000 share position in GRRF today. Please see the attached chart. The taping down channel may be inaccurate. My concern was whether or not the stock actually traded down as far as the tail indicates on the daily fractal. If it did, then my channel line is incorrect. I bot the stock right after the open, with an average price of 11.198.

Volume is a concern to me on a play like this, but both stochastics are turning up and the MACD histogram is sloping upward.

Comments are appreciated.

- Huskydog
 

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good job on the trade.. i drew the channels differently though... i think your tapes are fine, but it's even more important to have major intermediate channels drawn in there since they have more weight than the short term traverses you drawn on your chart.

here is the intermediate channels i've drawn.
 

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