Tuesday, 18 November 2008

Trades 18/Nov/2008

Watchlist:
ADBE,AMGN,AMZN,BA,BBBY,BIDU,COP,CTRP,FDX,FWLT,HPQ,KO
MDT,RIMM,SCHW,SPLS,SRCL,SYK,TEVA

I'll add in more info later when I have time. But here is quick summary of today's trades.

HPQ (gap up)

Gap up is followed by weak price action relative to market. Went short as market turned down. Took partial at 1R then rest came back for breakeven

FWLT (weak sector)

This was a trade in the last session. Weak price action thru the day and failure to hold previous day's low. Trigger candle was weak red which closed at it's lows and off the ema coupled with market downtrend.
A short term trade so closed my full position for 1R gain.

CTRP (gap down)
After gap up, price trended down as it hit ema resistance. Went short on pullback and market downturn. Didn't work out as the market recovered and I was stopped out for a loss.

A difficult day overall as the market was very choppy and directionless for most of the day. Perhaps better off not trading at all on these sort of days.

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