Thursday, July 29, 2010

Advice, be careful of it


Some blogs were saying NFLX is a great buy and listed the reasons why to validate their point of view. The chart said otherwise at this point(which is all I care about).
I like to zero in and trade contra to people like this. Yes I know that anything can happen but the probability is greater to the downside. The Reverse Livermore worked today.
Always trust the chart.

NFLX short











added size because it is going my way, then cover taking profits on that big volume candle


After being stopped out by.01 on a TNA short a few minutes before I take it short again

TNA short



















cover TNA , taking profits as markets stalled

I wasn't quick enough to catch the previous drop and pop but kept watching FSLR for a short entry signal. Declining volume, shorter candle then a doji was it.

FSLR short














cover, take profits FSLR

AMZN, a sequence in timing




AMZN weak so i short it...

















add size, then cover and go long but thinking it won't last...














sell the long...
















take it short again where I feel the real trend is....
















add size since the trade is going my way.
and finally, cover taking profits



ESRX what are you doing screaming upwards when the markets are crashing? Well I'll join in long ...















sold ESRX and short it...
















added size
















cover ESRX