Tuesday, 17 February 2009

Trades 17/Feb/2009

Watchlist:
ABB,AEE,AFL,APC,AXP,BBL,BBY,BHP,BK,BP,CHK,CVX,DE,FCX,
AU,LNC,MBT,MDT,MET,MRO,MS,MT,PBR,PNC,POT,RIG,RIMM,
RIO,SCHW,SLB,SYMC,WFC,X

PNC (gap down)

Gap down and fall thru OR. Retrace back to oR but can't hold it. The 7th is weak red breakout of OR off the ema and closing weak. This is our short trigger. Looked good but gained support as market recovered. Covered partial as it recovered off previous low, the rest was stopped out at original 1R stop.

PBR (gap down)

Standard fall thru OR then shallow retrace back to ema. The 6th is NR7 IB pullback to ema and is our short trigger. Take partial at 1R as it fell nicely after entry. Couple of data spikes on 12, 13th candle. After that it just went sideways for rest of day. Closed the rest at 1R in last session.

AU (gap up)

Gap and break of OR. The 4th is pullback inside bar staying above the OR and strong price action relative to market. Long after the 4th. Closed partial at 1R as we were also getting close to Fib Ext and whole number. Gave the rest a chance to run, but the long wicks on subsequent candles showed trouble holding the whole number. Closed the rest at 1R on trailing stop.

AFL (gap down)

This was the one that got away. Gap down and break of OR. The 4th is weak off the OR low and is our trigger for a short. In hindsight not a good setup candle. Partialled out as whole number held, then rest was stopped out at 1R stop level. The 8th candle was the much better entry.

Later in last session, shorted again on market weakness and a bounce off whole number for a quick scalp of 22c to make back some of the losses.

------Fib and RValues ---------------------


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


3 comments:

QQQBall said...

good trading. nice sector choices too. long gold miner & short oil company. particularly nice entry & exit on PBR :)

niki said...

i short usb -8 bar
i sell 2 cent ander the or and have 4 cent stop it get as far as 50 cent(12R)
what you think about selling support/resistanc of the or with a small stop???

TraderAm said...

Thx QQQ.

niki > depends on the how much the stock moves. If it is volatile or market is in a volatile mood, then the stop is more likely to get hit ? But if it works for you, stick with it.