Trading Journal - June

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Yesterday's market continues to point out the difference in today's market versus the late 90's bull market. Yesterday the Dow, lead by non-tech stocks reversed the early morning losses and rallied to close up for the day. The Nasdaq gave up all of it's late morning gain and closed slightly below it's down opening. Last night's announcements continue to bring bad news for the Nasdaq. Look again for a weak opening by all the indices and a bounce back later in the day. Another like day yesterday will make it obvious that the tech stocks continue to be dead.

If you still want to hold tech stocks MSFT appears to be a good choice. It is forming a longer-term double bottom. Compare its pattern to AAPL which is in a downtrend coming out of a giant top.
 
Originally posted by Cesko
You are incorrect about your the statement above. I consistently try to fade strong markets? CYMI & EBAY, as I pointed out yesterday, are both unique situations I have noticed with my experiences and trading these 2 stocks. We are hardly in a strong market other than singling out yesterday's. The shorts I have taken have made me quite a bit on money so I'm assuming you were referring only to my 2 loosing short trades yesterday. Please due your DD and read my posts and trades before stereotyping my trading strategy over one CYMI & EBAY trade. Thanks.

OK, I have done my DD but, unfortunately, cannot find the day when you lost couple of times $1 in exactly the same scenario. So in my mind I am not stereotyping but see a pattern. Of course we can argue whether I am right or wrong. Exactly I said I didn't UNDERSTAND!!. It wasn't a criticism.
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My response:
I welcome your opinion, however, if you were only able to find one day when I was fading a strong market, how does that constitute your statement that I consistently fade strong markets?
 
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