Trading conditions

Given that this was the last day before Labor Day, I had vowed to myself to go VERY easy unless there was some real action. I had also vowed to myself to stop trading by 11am, cos it would be 100% likely that volume would dry up as people packed up their rucksacks and headed to the mountains for a long weekend.

Had it not been for the bullish intraday breakout at 10am (on the release of positive economic news), I would not have traded today. The moment the news was released, I noticed a significant pick up in time and sales on the large nasdaq issues and went for a handful of what I have found to be the most market sensitive. In effect I ended up scalping a basket of futures sensitive stocks, and made out pretty well.

I was done for August by 10.30am.

Let's hope the trading Gods are kinder to us for the remainder of this year. Everyone have a great long weekend.
 
Made a big 500 bucks today. There was no meat to any moves. I ended august with an ass poor 7% account gain. Lets hope that the trading gods shine on us later on this year.
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I'm taking home 51k (possibly more) bvsn that I bought on the close at 1.28 avg. I recommend adding some to your account too. I think we'll get a 30c pop or so in the next 2 days. Good luck, and do your own dd.
 
Hey Praetorian, cool name...What do you see in BVSN? I would need a few beers before buying 66K of that stock. Are your trades based on oversold/overbought conditions or some other criteria? Dave D.
 
ddefina

Hey welcome aboard.
To keep this thread on topic run a search for GNP, Great New Pattern and such.

There have been some lengthy posts in the past about it.

Pretorian2 has a knack for finding bottoms of stocks heavily oversold.

rtharp
 
I too would like to hear why you believe bvsn will rise in the next few days. Is it based only on the fact that it has declined so rapidly in the past week? Because the general market may rally next week? Is your opinion based on something as simplistic as this, or is it more intricate? Why go up????? :cool:
 
I would also like to keep this thread on topic, so this will be my only post on the bvsn rationalle. If you want to discuss it, please start a new thread.
I trade the GNP, if you have more interest on that, I recommend that you read my 2 extensive threads on it. Bvsn follows this pattern. I think that over the next 2 days or so, it gets about a 30-50c pop. I admit that it's hard to trade for things like that, but on a 6-figure position, those cents add up fast. I intend to take more on tues morning. The chart was created by an sp 500 deletion, but I feel that it still creates a valid pattern. I'm keeping a tight stop though.
 
What's your stop? This thing could go down another 30-40c before it rebounds. Why buy now? What's your rationale for buying right now? :confused:
 
Baron and/or zBoy,

Thanks for moving this thread over to the main Trading section. It was too valuable to languish in the Professional Firms forum (besides being misplaced there).
 
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