TNA

Bought TNA

sell TNA

QQQ

Woke up this morning to find the QQQQ charts didn't work. Yikes! I wouldn't have been able to trade without that as it's one of my main indicators. A little search told my that it had been changed to QQQ like it was a few years ago.

TSL

short TSL

in this case a 15 minute doji was the signal to get out

cover TSL

TNA

short TNA

cover TNA

RVBD

short RVBD

cover RVBD

TNA thought dissection

Here's my thoughts on a TNA short trade earlier this week.

1. Set the stop just above the high so that it will have to make a new high in order to stop me out.

2. Declining volume on the way up suggests that the buyers are not strong.

3. The trade works. As it falls I double and triple up because that is how I make money - by adding to winning trades.

4. Cover after the volume spikes. That is when bounces happen. A nice even dollar level is more reason to cover. A multi dollar gain is even more, more reason to cover.

FAS

shorted FAS

cover FAS and play the bounce again. These 3x stocks are just ideal to momo trade. Lots of movement, .01 spread, and you can easily get in and out of large size in an instant.

ERX

bot ERX

sold ERX

FAS

bot FAS

sold FAS into the pop

SINA

SINA short from yesterday

cover today