Trades 29/July/2010

PAYX (gap down)

Trending down after gap down and weak relative to market. Entry on horizontal break of support. Closed half at breakeven after bullish candle threatened. That was just temporary though as it resumed weakness. Closed rest at +1R.

TJX (fall thru prev day low)

Trending down with relative weakness. Entry on break of horizontal support. Closed partial at +1R then rest at +3R as it closed in on $40 level.

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Trades 23/July/2010

EXC (move thru prev day low)

Initial fall and retrace but rejects off previous day low then trends down. Consolidates at the whole number. Trigger is as shown for breakout to downside and thru whole number. Didn't work out and stopped for a loss.

WMT (gap up)

Strong initial price action relative to market. Trends up and trigger is marked on breakout to new high. Didn't work as planned and stopped for a loss.

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Trades 22/July/2010

MT (gap up)

Trending up after the gap. Entry on break of horizontal resistance. Closed partial at 1R then rest in last session for around 0.5R.

PCAR (move up thru prev day high)

Trending up and strong relative to market. Entry on break of horizontal resistance. Didn't work out and stopped for a loss.

WDC (move doen thru prev day low)

Move down showing weakness relative to market. Entry on pullback as market weakened further. This was a bit tight on the risk/reward as the prior low was less than 1R away. But worked out ok. Closed whole position for 1R since I was shorting against the general market.

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Trades 21/July/2010

LNC (gap up long)

Initial strength relative to market as it stayed above prev day high. Entry of break of resistance as market strengthened. Didn't work out as planned and stopped out for loss.

MHS (gap up fade)

After gap up it sold off falling heavily thru previous day low. Entry off break on bearish candle marked as it was weakening relative to the market. Closed partial at 1R (near whole number) and closed rest at 3R for an overall net 2R gain.

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Trades 19/July/2010

HAL (gap up)

A gap up stock which did retrace while market weakened, but held above the previous day high. Entry was on break of horizontal level as market recovered. Closed at +1R.

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Trades 16/July/2010

A day like the good old days today. Plenty of trades and a decent profit overall.

BID (gap down)

Strong trend down, marked candle is entry trigger for break to new low. Didn't work out as planned and stopped out for a loss.

HAS (gap down)

Strong trend down and then pullback but failure to hold the $40 level. Entry trigger marked for breakout of horizontal resistance. Closed at 1R and at end of day for just a bit more.

JCG (move thru prev day low)

This is a 15min timeframe trade. An OR breakout on 2nd is followed by shallow pullback to ema. The 6th is NR7 pullback and is our short trigger. Closed at +1R.

MAT (gap down)

Standard trade on downtrend then breakout to new low. Closed at +1R.

MTL (move thru prev day low)

Standard trade on downtrend then break of horizontal resistance to new low. Closed at +1R

There were a couple of other opportunities later (AEM, CMA), but I was short on quite a few positions and so didn't enter any more trades. Hope you had a good one.

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Trades 15/July/2010

DG ( move up thru prev day high)

On 5min chart above. Despite market weakness the stock showed relative strength as it pulled back but held the previous day high as support. Entry was on horizontal resistance breakout as market began to recover. Closed at +1R.

Looking at the chart now, holding a 2nd half with stop at breakeven would have paid dividends. However, I'm still backtesting etc on 5min chart setups so not sure if a multiple exit strategy is a better option in terms of overall profits. But something to look at for sure.

No other trades today. I did look at some shorts, but the market had moved down so quickly in first 30mins that I had missed most of the move and didn't want to chase it.

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Trades 14/July/2010

ADI (Move up thru prev day high)

Despite gap up stock is weak relative to market and falls back down thru prev day high. The trigger candle is red weak after fall thru the $30 level. The r/r on this trade wasn't the best as the prev day low was in the same area and potential support area. So moved stop to breakeven after the green hammer (18th candle). This was hit a few bars later.

SUN (gap down)

Weak price action relative to the market. Entered short on breakout of horizontal support after strong trend down from prev day low. Closed at +1R.

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Trades 13/July/2010

CELG (move up thru prev day high)

Strong trend up and staying strong as market pulled back. Entry on 5min chart on breakout of horizontal resistance. Closed at +1R.

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Trades 09/July/2010

Was planning to go away for long weekend, but change of plan, so decided to trade today. Both trades were off 5min timeframe, which is something I've been working on incorporating into my trading. I'll post some info in the My Strategy section when I get some time, but in general I am trading pullbacks in a trend and range breakouts. My watchlist will consist of stocks which have gapped, then subsequently are showing weak/strong behaviour relative to the general market.

COST (gap up)

After the gap up, stock was selling off despite the market holding it's own. Entry was on breakout of support on 5min chart. Since the previous day high was nearby, the trigger price was below that level as well. The candle marked is closing weak at it's low for the day and this is our short trigger.
Closed at 1R as it fell thru the prev day high.

HON (gap up)

Gap up stock which was trending up. The candle marked is an inside bar pullback with long tail and is our long trigger for breakout above current day's high. It got to within a couple of cents of 1R, so scaled out at breakeven, once it started reversing.

No other trades. Hope you did ok.

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