At the time of the post I was a nickel or so...BUT now it's move against me a bit more. I'm not too concerned with it's activity today...I plan on a 3-6 day hold.
I just wondered why you chose only one of Seanotes few trades that appeared to NOT be going in his favor to comment on. If I had to speculate on your tone and/or intended meaning it sounds like: Don in a hushed whisper "hey yeah OK job on those other trades" then Don screams at the top of his lungs "HEY CHECK OUT THAT POS TRADE SEANOTE GOT IN HA HA TOO BAD LOSER." Seenote had already posted that he closed his WCOM and MU trades at a loss, very matter of factly as a loss should be viewed. I mean why take the time to even post a two sentence post on one trade that appeared to be going against him....just to bring attention to it for the rest of the board? We can do that ourselves- don't worry.
Even more the point on the irrelevance of Don's post...when DOn posted about your MER trade it was only against you less then 20 cents.... give me a break
Does Don trade himself....his OWN account? I used to trade other people's accounts and did well for both of us which is how I bankrolled my own account and I can gurantee you that trading other people's money is a hell of a lot easier than your own even if your living is tied into their profitability. I haven't taken time to study any of these traders or their posts yet. I'll take a look over the weekend while I'm in VEGAS!
What would you have looked for to enter long intraday. stock at some kind of support or something breaking resistance. A small uptrend bouncing off a moving average? Why not wait for a strong close to confirm bullish bias. Do you have to speculate a little more than that for a swing trade (3 to 6 day hold). Does the time of day influence your entries that much. Or would that cause you to emphasize too much on intraday action. Thanks, Carl
Today I was expecting Greenspan's speech to be more or less what is was. Not negative with a hint of bullish sentiment. However the street didn't react to his testimony positively as they are indicating more and more over the past year. Secondly, I took this positions as a swing trade (2-6 days) unless indicators or breaking news state otherwise. If I open a daytrade (DT) I will state as such like I did yesterday on the MLNM play. My intraday long was triggered by stochastics, oscillators and a 3 day intraday chart testing support but not penetrating. In any stock or index, general rule of thumb is if the price test support or resistance 3 times, go with the trend. 80% of the time it will break out. The time of day does influence my trades to a point...meaning if the market gapped up or down significantly at or soon after open and my plays are contrarian to the market at the time, of course I will hold off opening the positions. In that instance I will watch the stock trade for a couple of hours and let a channel form within the intraday chart to help narrow down a better entry point. I'm not quite as concern with entry point in swing trades as I am in Daytrades, obviously. Speculation is much more prevalent in DT opposed to swing. I personally like swing better, but you need the staying power to ride out a bad day or two. If my stop alerts are hit no matter how long I've been in the position or what the market is doing, I'M OUT!
I sent you a personal note...feel fee to call the office and come by if you happen to be in town past the weekend. Keep up the good posts!!