A piece of the action, a slice of the pie. Go where the money is.
Tuesday, June 29, 2010
cashing out a couple of minutes before the close
TSLA entry
TSLA exit
and finally CLF
CLF short entry
CLF exit
TNA was another one
TNA short entry
TNA exit
VXX was another long termer today that paid off
VXX in
VXX out
QLD dragged on slowly but was profitable
QLD short
QLD cover
the benefit of jumping on the bounce rightway and not waiting is that I am either stopped out immediately with a small loss or I have a big advantage on the momentum. Market looks very weak so I'll exit RIMM here taking a small profit
So i waited for TSLA to pullback and now i am long again. stop is under the big green candle low.
The prevailing wisdom is to scale out of a position. I think that is wrong. My way is to add to the winning trade until momo slows. That way I am maximizing the opportunity I recognized and acted on.
TSLA shows me a flash of green so I add size. my supposition looks to be correct
as TSLA moves above the price it stopped at I add more size
markets are falling strongly, I'm very profitable so its time to sell TSLA.
I'll keep an eye on it for moves to new highs though
Nice trade in TSLA
TSLA made a new high, i waited for a pullback, to get long
established a poistion and added to it.
sold out when things started to get jumpy. i.e. when the traders who were kicking themselves for not buying sooner finally could stand it no longer.
its always a good place get out then and wait for a reaction