Monday, 15 December 2008

Trades 15/Dec/2008

Watchlist:
AAPL,BBY,BEC,BTU,CHK,CNQ,CNX,FCX,GG,HAL,HMC,MO,
NXY,OXY,PBR,POT,RIG,SLB,SU,T,XOM,WHR,ABX

BBY (Gap up fade)

BBY was gap up, but couldn't hold it. Fell thru OR on first candle and then weakened further thru the previous day's high. The 4th is inside bar pullback closer to ema and a bearish candle. This coupled with market downturn was our short trigger.

Entry: 24.04 Stop:24.40
1R=23.68 2R=23.32 3R=22.96

The price falls nicely after entry and we take partial at 1R leaving rest to run. This was closed towards end of day at previous day's low support level. Overall +1.5R.

Nothing else was convincing enough for me to trade.

------ Trades ------------------------------

1 comment:

Attitude Trader said...

Nice job man.

I fought the opposite direction all day.

-AT