Friday, 16 October 2009

Trades 16/Oct/2009

IBM (gap down)

Gap down then sideways range at OR low. The 7th is NR7 off OR low and and is our short trigger. Closed partial at 1R and the rest came back to breakeven.

SNY (gap down)

Recover on first two candle before wekaness resumes. The 5th is inverted hammer off OR low and is our short trigger. Didn't really follow thru as it just went sideways for rest of the day. Closed in last session for 1/2 R loss.

SPG (gap down)

OR break on 3rd after gap down. The 4th is NR7 hammer off OR low and is our short trigger. Closed partial near Fib Ext for around 1R then closed rest at 3R after it moved down nicely with the market.

No other trades for me today. Did have order in for SGMS but never triggered. Also missed a couple of opportunities for longs in HAS and KR. So setups were there today. Hope you caught some good moves and have a good weekend.

----- Daily Stats -----------------

3 comments:

andi said...

again played USO long..shorted IBM and covered w/ chump change ( i almost knew it)..
ICE was nice play off the get go..had a look at NTRI but thought it would be another breakout failure..but this time it was nice run...u r right , today's action made some sense ..hope this remains the case

niki said...

Why did you partial so soon (1R) in IBM ?
And why did you get out of SGP at 3R ?

TraderAm said...

niki.

Being a Friday, I just wanted to bank some profits as there very rarely seems to be any follow thru. Taking profits at 1R and 3R seems good way to go at the moment.

IBM specifically moves a lot and I must admit that I don't normally trade it. So once it got to 1R I wanted to take some money off.