Monday, August 4, 2008
August 4 - Trade and charts
Today was the day to be short on oil, metals, etc. But I was focused on the wrong stocks and sectors so I missed the nice moves today. The only trade I took today was on GS and that did not work out well. The other charts are for my collection of cool charts (and really the type of charts I would like to trade).
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5 comments:
Like the posting of the charts. Always good to review things that you have missed.
On MT, do you think that the lower tail would/should prevent you from entering the trade?
Also, what do you think of the 12:00 IB on CNX? It is sort of a bear flag/retracment into S1.
Thanks on your reply about the Bear Trap on friday!
Hey pdt~
MT: The 5min and 1min chart for that entry look solid, so the small tail would have not stopped me from entering the trade.
CNX: Love the 12:00 NRIB against down sloping 5 EMA and S1. I would have been concerned about the long lower tail on the 11:30 bar. So, it is probably a good one to trade on the 1min chart.
yeah, FCX, FRO, AKS just tanked. When you're in these stocks and make money it gives a false sense that this is how all stocks act :)
Well, they should all work like that, but they don't ;-)
Also, the market has been so choppy lately, that yesterday's big move in oil/commodities caught me in defensive mode, so I hesitated and missed big. I guess it is all part of the learning process.
Cheers,
anarco
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