Trading Journal - May

[Seanote]

Short 2,000 KLAC @ 52.03

 

[Seanote]

KLAC is beginning to form a nice channel between 52.05 and 51.70 area. Not using extremes of each channel but a good guide. Watch futures when playing these channels for breakouts which will void any channel formations and support/resistance.

 

[carlp]

I follow KLAC every day. To me it looks like its being accumulated right now for a run later in the day.

I think this is a good spot for a long swing entry.

To me shorting down here is playing with fire.

 

[Seanote]

Originally posted by gino00
sorry for my english. I ask you if you are present (live) in chat ? If you are in chat I like to know the name of this chat. sorry for the disturb.

.


No problem at all and yes I'm live.

 

[Seanote]

Covered 2,000 KLAC @ 52.12


- .09 points

Futures brokeout to the upside which blew out the channel.

 

[Seanote]

Long 2,000 QLGC @ 45.64

 

[Seanote]

Closed 2,000 QLGC @ 45.85


+ .21 points

 

[moffitt]

God bless America. Remember those of 9/11 who are not with us any longer. That we are free to pursue this chat room and trading.

 

[Seanote]

Originally posted by carlp
I follow KLAC every day. To me it looks like its being accumulated right now for a run later in the day.

I think this is a good spot for a long swing entry.

To me shorting down here is playing with fire.

I will have to disagree with you regarding the long swing trade. The only reason this stock will have any upside later today will be if the shorts decide to cover or the market rallies. Even if the market rallies this stock will not be too sensitive to the Naz. This stock is settings lows on a 90 day chart and the SOX are about to break their lows. The semis are in bad shape and I wouldn't take any of them long for a swing trade. Granted, shorting this stock at any point in the day is somewhat risky, but the bottom on this stock is weakening by the day. Still a good company, but technically it doesn't look good short term.

 

[Seanote]

Short 2,000 KLAC @ 52.08