Friday, 31 October 2008

Trades 31/Oct/2008

Watchlist:
AAPL,AKAM,AMT,AOC,BBY,CCL,CF,CTV,ERTS,ESRX,
GME,HBC,MFE,MHS,PBR,PFG,THOR,VOD

A bit of a mixed day today.
Performance table also updated for month of October.

PFG (gap down)

Weak first is followed by sideways consolidation at OR lows. The 5th is bearish candle and off the ema coupled with downturn in market. This was our trigger for short entry.

Entry: 15.85 Stop: 16.28
Fib Ext: 13.40
1R=15.42 2R=14.99 3R=14.56

Although we fall initially, the stock holds support and we are stopped out for a loss.

ERTS (gap down)

Weak first is followed by a shallow retracement back inside the OR. The 10th is swing high coupled with downturn in market. This was our trigger for short entry.

Entry: 23.28 Stop: 23.58
Fib Ext: 20.20
1R=22.98 2R=22.68 3R=22.38

Although we fall initially, it's very slow going. We do get to 1R where we take partial since whole number is near and leave the rest to run. This is stopped out at breakeven.

CCL (gap down)

Weak first is followed by weak price action as we break thru $24 despite market strength. This is our signal for a short trade. It's a fast scalp type of trade, with the intention of taking profits quickly.

Entry: 23.70 Stop: 24.20
Fib Ext: 22.52
1R=23.20 2R=22.70 3R=22.20

We fall quickly after entry. Since it's not a type of trade I normally take, I decided to close all at 1R. Which is a good gain, but I left a lot on the table.

AKAM (gap up)

Weak first is followed by sideways consolidation at OR lows and previous day's high. The 6th is bearish candle and closed below previous day's high. This was coupled with downturn in market and so was our trigger for short entry.

Entry: 14.48 Stop: 14.90
Fib Ext: n/a
1R=14.10 2R=13.70 3R=13.30

Although we fall initially, the stock does not break down and we just go up and down for the day. The previous day's high holds as resistance though. We close near end of day for a 1R gain after some weakness in last session.

4 comments:

Anonymous said...

is the time stamp correct.i check in @ 09:00 & there was nothing for the 31 oct 08

thanks! traderam
todd

OONR7 said...

you know... it's about time you left some profits for the rest of us.

TraderAm said...

oonr7..

Will do..:-)

anon.

Depending on work committments, I can't always post on time.

ralph said...

tr: on your performance table, is the # of R-multiples correct? Just checking, Ralph