Thursday, November 12, 2009

Thursday Log - EOW & Friday 13th

Started the day shorting about 18 minutes after market open. Entered in 94's with stop above PP. Stopped out. Waited for market to run its course and started running out of momentum around 1100 level. Re-entered short in 99's and scaled out down to PP. Two trades - Result: Scratch

Tried a couple quick scalps in late morning with little success. One long and short trade each as I played (or they played me) around the PP area of 96. Result: -2.0

Internals and price action was saying short so re-entered short in 95's around 1100 as price had gone thru PP and I shorted on first re-trace back to PP area. Scaled out using combo thinking and S1 as support/profit target areas. Result: +10.0

Came back for the final hour of trading session. Tried a long in 84's thinking it was the bottom as it was a good support area with TWM and S2 but was too early. Stopped out in 83's. Re-entered in 82's as new low was made on lessor down volume and slight divergence in Stochastics and $TICK. Anticipated shorts to take profits before market close. Scaled out in 85's and 87's. Two trades - Result: +4.75

Tomorrow is EOW and Friday the 13th. Just another trading day except for the superstitious?

Trade Well !

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