CHU entry

GOOD DAY FOR ME, even though my trades were so-so.

i entered a short for CHU, its probably riskier than i will want later but its following the concepts that i just realized i should follow. More curious than anything on this...

lately i have been looking for big down bars that are breaking out of 2 ema's, with the other side of the channel as the target. thats all great but i think that whole setup is more of a specific kind of trade out of the several that i should be looking for.

ADDITIONS: 200 EMA

CHANGES:target is the very next EMA or TL in the way, not just the "other side of the channel". a large bar can breakout of or touch any EMA or TL for entry. stop loss can be at EMA or TL behind entry bar.

I think lately i have been making the mistake of looking for home runs. I was only asking to enter at one side of a channel and exit at the other, but thats basically a home run and too rare for me to even aim for. And instead of "getting the ema's out of the way" cuz they can slow down or reverse my trades......i can use them as targets. The trades i get into would almost always move to the next EMA, at that point they might stop or reverse but they still moved to it, thats why its a good target. thats what daytrader rockstar does. he gets those small thrusts between EMA's or TL's.

My trading will all be the same except for my entry checklist. So reasearch is all the same except i will want the ema's/tl's ahead to be spaced out so any potential trade could move. Im still going to look for shorts when market is at resistance.

NYSE composite and NASDAQ composite .
In my opinion both are butting their heads against resistance with no actual breakout yet. So even though i have been stopped out of 2 stocks cuz of friday's pump, i still feel like shorting is best. Market just looks like its hitting resistance in a typical fashion. No reason to become extremely bullish yet. Nothing to get excited about, just another upper channel test. That must be how it is every day for the pro's....."...just another large gain from this wedge breakout.....just another vacation to schedule....". bastards.
NYSE looks so clean and proffesional compared to NASDAQ. Not only does it have less random gaps, but it fills out the channel much better and even has a bigger downward channel which emphasizes my shorting even more. NYSE has more experienced traders while NASDAQ has more yuppies. I love them all equally though.

My girlfriend's pretty.

quickly stopped out of CBL for a 4.5% loss and FITB for a 3.9% loss. strong pullback in the market, which sounds bad if you are heavily short like i am but in the end price is still sitting at the resistance level so i still need to wait and see which way it really wants to go.

i also got stopped out of CS but i realized i didnt place my stop loss high enough and will reenter in the morning (i will use original entry and correct stop-loss in calculations).

all the different traders on blogger have so many opinions on what to look out for or which way it might go.......we all just have to wait and see. after the open i will be holding 7 trades.

BXP, CBL, CS, FITB short entries

BIG DAY!
I shorted BXP, CBL, CS and FITB after what looks like the first day of the market selloff i have been anticipating. All four look great to me. Many others caught my eye too but these were the cream. Even if the market didnt selloff back down to daily support i should still get some break even/small gains out of these.

Now im holding 9 stocks including the one long(DBC) that wants to keep chugging along. I posted a video response to some clip of tv people telling how great everything is.

CNQ short entry

CNQ looked good today as a short entry. Several other stocks caught my eye but werent quite good enough. Im still assuming the daily S&P500 resistance will hold so im only looking to short right now. Seeing more and more collapses/gap downs each new day this week.

Overall a good day of gains and now holding 4 shorts and 1 long (DBC just hasnt made me exit yet)

CVC, CLF entries

Ive been itching all week to short something since the market has been consolidating at nice resistance. CVC and CLF looked great today. There were several others that i liked but they werent good enough. Today, friday, was the first day all week that had anything to offer me. I think the drop is starting and hopefully i got in at the right time. risk/reward on these are great.