There's some real fine ones out there tonight..ones I've traded in the past both long and short..bring on the open!
First, I have been asked why I keep so much in my trading account( $60k as of now ) if I only go in $3k to $5k on a trade,at most...ones like ANPI so I can hold,and freewheel with others,this is turning out to be one of the best of '08.
2 day spiker(eod too both days) it went green to red on the 3rd day AFTER A GAP UP OPEN from 1.45 to 1.59 THEN WENT RED.
This 3rd day pattern on red is one of the most reliable there is imo.
Shorted on red at 1.35 on 9/19 it now sits at .59
Another thing and if you know me I rarely watch intraday charts but on "live" bottom plays like FRE has been I gotta watch the action.
First in long FRE @ .55 on 9/19 I sold @ 1.20 for a double +,no real big deal,that happens, but the thing is with the charts... it sat there forever at 1.19/1.20 making up it's mind,as soon as it started getting super jiggy at 1.21,I was cetain to go back in long there,what WAS my previous sell point.
It closed at 1.32,no big deal again not the big a run BUT all these gains add up!
Because the volume was pouring in I held to open Wed...whether right or wrong,the 1.21 re enter was easy money imo..if not greedy,as I admit I am,quick 9% profit on what I think was very good risk/reward is easy to take.
I understand if one is hampered by the pdt rule this can't be done..unfair,for sure, but the way it is for now.
GBRC SIL KOG QRCP MFN FRG MDTL EXK JYHW COINW VRML MGN HQS MKTY PRW NMGC CGFI CNOA MVG SYMX DITC THM FOUR.
If interested there's some big runs still for tomorrow to watch...this market so volatile,day traders heaven.
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6 comments:
Muddy, got out of RIC for a measly $16 gain, but still a beautiful play (just too illiquid). Thanks for hosting the chat and for all your alerts.
Reaper
Muddy, where do you think SIL will go tomorrow?
Muddy, I checked the chart on ANPI looking for what may have been your trigger to short at 1.35 on the 19th. Couldn't find any technical indicator that may have caught your eye. Were you in based on "gut feel?" Nice trade, by the way!
Reaper,
You're very welcome.
I thought RIC was a great setup too.
Surprised it didn't fall more.
mapiguy,
SIL has that 2 day run big pattern,many of those go green for an hour or so and start to fall/red.
Like the ANPI chart ...only SIL has run much larger.
Blue,
On the 18th ANPI closed at 1.45,then on 19th it open gapped up to 1.59...so just was watching for red which was 1.44 plus it was about 9% off it's hod.
1.35 I was late in seeing it but on these a few % sometimes means nothing
I just used price action,no indicators
if you go back on the five minute chart you can see that the cross of sma10 and sma60 wright at 1.35 with laura's volume confirmation signaling a sell or shortsell on sep 19 at 1:10 pm. plus if you are looking at a daily chart you can see the candle hitting the muddy zone MZ ema10/sma30 then pulling back.
thanks muddy for every thing you are posting on greenonthescreen, i have read every single blog you have there and sf for the last 2 months and now i m pappertrading yor methods. man you rock and i salute you master
Thanks Muddy, seems like one of things I have to learn is that absolute precision is not required for success.
hfilty, I'm checking that out now. I was thinking green to red only when I asked the question...that's why I inquired.
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