Tuesday, November 11, 2008

Frustrating day today

Every time I have a losing trade, I take a look at it and wondered if I have missed anything.

Today is no difference.
I've got stopped out:
AFAM, DDM, SPTN, ABAX, VIP, BTU.

counter trend trades: DDM, BTU, are high risk.
The uptrend was not confirmed on VIP, just a higher low, so it is still a counter trend trade.

AFAM, entry was correct. But there was no follow through.

SPTN, entry was NOT correct. 2 days after the bounce.


At the end of the day, I open new positions on DDM, and AFAM.
DDM, I draw a line at $32.80, which is also the 38% fib retracements.
there are 9 touches, on the line, high, low, open and close.
And today it closes at that line too.


One can also see a descending triangle forming, so if it breaks out to the down side, I will go long on some DXD.

AFAM: today its low touched the support with a long shadow.




shorts:
longs:AFAM, DDM

If you find this blog beneficial to you, please donate to your favorite charity.

Link back to the Blog

No comments:

Custom Searches

Search Results

Links