Posted by lasertrader on January 27, 2010
On Tuesday 3 trades triggered TQNT long, FTO short, and GMXR short. With the gaps we have been experienceing I cannot emphasize enough that you enforce the first 30 minute rule. Don’t automatically take any alerts that go off shortly after the market opens on a gap in the stock price. Give things a chance to settle down and look for a retrigger or another valid entry near the trigger price.
There are two more shorts added to the Watchlist today but I suggest we pay attention to the Big Picture realizing that we are at or near a point in the markets where we could expect a bounce off support. Keep a short leash on any new short positions added today in case the market decides to start a relief bounce.
EMN short under 57.50
RHT short under 27.30
Posted in Trade Setups | Tagged: EMN, FTO, GMXR, RHT, TQNT | Leave a Comment »
Posted by lasertrader on January 26, 2010
We aren’t ready to put on swing short yet, we will be after a bounce. Read the Big Picture here for a look at the SPX. For now I remain in daytrade mode until better setups are found on the charts. Here is a list of some of the setups I have for Tuesday. Be nimble and quick with all of these and manage the trade actively. Some may turn into longer term hold but for now I will take what the market gives me.
NCR long over 12.64
DXD long over 30.90
TQNT long over 6.51
MITI long over 8.39
DVY short under 43.25
AFL short under 49.45
USG short under 13.60
WSM short under 19.80
FTO short under 12.97
GMXR short under 11.45
Posted in Trade Setups | Tagged: AFL, DVY, DXD, FTO, GMXR, MITI, NCR, TQNT, USG, WSM | Leave a Comment »