Tuesday, September 16, 2008

Trend me!

2nd principle of Technical Analysis: Prices move in trends

Uptrending Sectors: HomeBuilders

Here is my entry today:


MTH,
stop: 23.52
move stop up daily, 0.20 below the diagonal trenline.



Early today SMN and DUG moved $2.00 in my favor and I moved my stop up then later got stopped out break even (commission included).
Remember: I can trade forever if I am "break even" on each trade.

They said don't short rockets, don't catch a falling knife. Shorting a falling knife is no less dangerous.
An old man told me once "Peaches smell the best right before they rot"

Yesterday I posted in another forum for my short on CNX, it hit my target out of the gate this morning and make 75% on my OTM option. Yeah!!! No, I don't know the future. Just being very conservative in my trades.

I am still long CLX stock.

shorts: Greed
longs: MTH

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