The Naz had something to do with the trade, but looking at some of the main Naz sensitive stocks at that current time, there were quite a few that double-topped along with the Naz so that was a great opportunity to send out a basket order. I'm doing too many things at once over here and only traded the one stock. I'm still working on my futures game plan during the day and just when I think I have figures out the best set up I come across a problem. I'm still making "paper" profit trading futures but I'm looking for a few more consistent points before I go live.
Trading Journal - May
- Thread starter Seanote
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The Naz had something to do with the trade, but looking at some of the main Naz sensitive stocks at that current time, there were quite a few that double-topped along with the Naz so that was a great opportunity to send out a basket order. I'm doing too many things at once over here and only traded the one stock. I'm still working on my futures game plan during the day and just when I think I have figures out the best set up I come across a problem. I'm still making "paper" profit trading futures but I'm looking for a few more consistent points before I go live.
Nicely done today Seanote. Two clean trades in a tricky market. I'm curious why you wouldn't just use the same approach with the futures.
Seanote,
What is it about the futures that requires all that work? You seem to have a pretty impressive handle on trading stocks and options.
What is it about the futures that requires all that work? You seem to have a pretty impressive handle on trading stocks and options.
Early Enthusiasm Quashed By Weak Economic Data
Stocks lost their early upside momentum following weaker than expected jobless claims and housing starts data and are poised to open only slightly higher. Intuit (INTU) issued a favorable earnings release while Pfizer (PFE) announced that the Department of Justice is widening its probe of the drug company's pricing methods surrounding a specific product. Treasury prices are higher following the lackluster economic data and world markets are mixed.
Stocks lost their early upside momentum following weaker than expected jobless claims and housing starts data and are poised to open only slightly higher. Intuit (INTU) issued a favorable earnings release while Pfizer (PFE) announced that the Department of Justice is widening its probe of the drug company's pricing methods surrounding a specific product. Treasury prices are higher following the lackluster economic data and world markets are mixed.
I'm just curious. Do you look at Fib Retracement levels at all in your trading decisions? QLGC had a low of 49.47. It trended up to a high of 50.80 then started heading down. The 0.382 Fib is 59.29. You shorted @ 50.30. Of course, that assumes you shorted on the way down. Just trying to figure it all out.
Great Thread, Jeff.
Great Thread, Jeff.
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