Bankrobber: 07/01/2010

Saturday, July 31, 2010

sorry but i posted the wrong entry chart on Friday. here is the correct one.

bottom fishing on CVD

and sorry to erase the first comment. i posted my reply though

sold CVD

Friday, July 30, 2010

bot BG

sold BG

bot TNA

sold TNA

bot X

sold X

TNA short was another one that lasted through the dead zone

TNA short

TNA cover

X classic short setup led to...

profits when i covered here

bot RIMM

sold RIMM

short NFLX

cover NFLX

short TNA

cover TNA after a spate of dojis

bot VPRT yesterday for a dead cat bounce

added some size this morning

sold VPRT

TNA long entry

TNA exit, take profits and wait to feel for the next direction

NFLX punishing those pesky shorts today. I'm happy to say I'm wrong and join the long side for the moment.

NFLX long

NFLX exit , take profits

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

Wednesday, July 28, 2010

If you've read Reminisces of a stock Operator you'll remember one of his favourite long plays was to enter a stock that was breaking "par" or even $100 lots and profit from the added momentum of breaking this psychological barrier.

I have found the same true when shorting the $100 mark. While NFLX was profitable , it didn't drop too much and I also gave up a bunch on the first short, long sequence by holding it instead.

NFLX short entry

NFLX cover

Good fun any way you slice it tho.

Short the pops

TNA was trending down slowly during the day so an excellent time to short it is right after it pops. Notice declining volume, shorter candles.

TNA entry

TNA cover

Tuesday, July 27, 2010

Profit taking revisited

When momentum trading

it is imperative to take profits when they are offered up to you. A technique I employ is to take profits whenever there is a big candle. I classify a big candle as one that is as large or larger than ones before it that day. I am ready and waiting to execute. Now do it dozens of times a day.

TNA entry

TNA exit on big candle

MNTA entry