Friday, June 05, 2009


sold SKF and done for the day
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3 comments:

Blue said...

Looks like SKF played the previous days range of 39.75-40.25 +/- a few tics. I took it short early at 39.75, it ran to 40.29 and I added another 1k short at 20.24. Caught the top of that reversal, but I was in over my head and bailed with a small gain once I got break even.

I miss the old days of run away trades sometimes.

Watch GS this week Scott. It appears to be topping out on a very clean channel with a lot of over head resistance. I have 149.87 as the price point, which it broke on the gap up. It has been trading extremely fib friendly along with the rest of the market.

2:36 p.m.
Blue said...

Another pair to watch is TNA/TRA and IWM. Topping with the Russel me thinks.

TNA is a great trading stock Scott. Right up our alley.

2:43 p.m.
Scott said...

Blue, One of the pillars of my system is never add to a losing position. It's better to take a small loser that to let them run, hoping you will be eventually be right.
Ya, the old days last fall will be remembered for some of the best trading conditions ever.
re GS: don't make your mind up beforehand what a stock will do. You'll suffer capital + emotional damage if you're wrong.

8:27 a.m.

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