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The adventures of a new Trader
- Thread starter cashmoney69
- Start date
10/27/06 - 10/27/06 (stopped out)
Bought SYNA @ 29.00
Sold SYNA @ 28.20
profit - 94.00 after coms
review
I'm not trying to blame others for my trade going sour, but becuse SYNA is a tech stock, its clear why it was down -1.09 today. "Selling remains the name of the game as a reversal in Materials now leaves all 10 sectors in the red. Technology (-1.8%), though, continues to be the biggest drag on sentiment. - yahoo finance.
My original stop was at 27.45 (1.55 risk), however I decided to abandon my stop and sell right at the market price. I'm glad I did, as the continuation gap has been filled (bad sign), and after todays trading, a tweezer tops pattern has formed on daily charts. The open and todays high were pretty much the same, showing that buyers were not interesting in pushing the stock higher, or they were waiting for the GDP report to come out before trading.
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On a good note, RHAT ended the day up .81 (5.93%) which was rather good considering its sector was down 1.01%.
Bought SYNA @ 29.00
Sold SYNA @ 28.20
profit - 94.00 after coms
review
I'm not trying to blame others for my trade going sour, but becuse SYNA is a tech stock, its clear why it was down -1.09 today. "Selling remains the name of the game as a reversal in Materials now leaves all 10 sectors in the red. Technology (-1.8%), though, continues to be the biggest drag on sentiment. - yahoo finance.
My original stop was at 27.45 (1.55 risk), however I decided to abandon my stop and sell right at the market price. I'm glad I did, as the continuation gap has been filled (bad sign), and after todays trading, a tweezer tops pattern has formed on daily charts. The open and todays high were pretty much the same, showing that buyers were not interesting in pushing the stock higher, or they were waiting for the GDP report to come out before trading.
---
On a good note, RHAT ended the day up .81 (5.93%) which was rather good considering its sector was down 1.01%.
Attachments
http://i14.tinypic.com/2dlmzb8.gif
this is a 1 year chart it ran right into resistance, guys got their prays answered and got out even
this is a 1 year chart it ran right into resistance, guys got their prays answered and got out even
Shorted 300 YHOO at 26.19
cover with Stops at 26.54 (.35 risk)
YHOO has gaped 4 times in the last seven days on average volume. I think its time for a pullback. My PT is not yet established.
cover with Stops at 26.54 (.35 risk)
YHOO has gaped 4 times in the last seven days on average volume. I think its time for a pullback. My PT is not yet established.
I'll cover at 26.54 like i said above.
if the stock gaps, my stop will take me out of the trade at whatever the current market price is. So yes, my exit could be higher than expected.