Thursday, July 09, 2009

A very fun day today.... not. Here's a song I came up with to commemorate it

A Trading Ditty. *Sung to the melody of heartbreak hotel


Since the trends have left us

And choppiness does dwell

I’m on the edge of insanity in

Daytraders hell

Well 1st it goes one way

and then it stops

And just when you think it’s going up

It stops

The brokers all are a smiling

The commissions are rolling in

The pikers are all piling in

To the graves they’re digging them

Well 1st it goes one way

and then it stops

And just when you think it’s going up

It stops

When 100 perfect setups fail

And the candles are what you fear

Maybe it’s time to look at your screens

Upside and in a mirror

Repeat…….




Less than 1/2 hour to go, had the longest trends of the day so I'm bailing out
sold SRS SKF FAZ


FAZ












SKF











SRS

Bot SRS


re bot SKF FAZ

FAZ
















SKF



Momo fizzles once again. take the small profits in

FAZ














SKF














SRS

cover GG

Bot SRS



Bot FAZ and SKF, short GG


FAZ














SKF














GG



Take a little winner in ZION, losers in FAZ SKF will wait to see if momo starts in any direction

Zion













FAZ














SKF

ERX is stalled so selling it

the pullback in ZION looks like a good place to go long, time will tell...

Markets are popping at the moment




S&P and QQQQ



Short SKF FAZ long ERX


ERX













FAZ















SKF



I'll take a couple of small loser sin FAZ and SKF and small gainer in ERX and wait to see what develops

ERX












FAZ












SKF

I'll take that small loser in SKF but buy it right back again



Again the reaccuring theme is to take what the markets are giving

cover SKF and go long














cover FAZ and go long














sell ERX and go short



Never one to let go of free money, I'll take that drop and trade the market strength pop.

ERX













FAZ














SKF



Markets look stalled, good time to take profits, trade them the other direction , set stops and go for a walk.

SKF














FAZ














ERX

Going to lighten my load a bit and get rid of GG

FAZ breaking to new lows



After some flopping around with small losers and gainers, momo shows the trend resuming

GG













ERX














SKF
Lotsa green on my new high /low indicators so a continuation of the original trend is more likely. COver the shorts ERX GG and go long, sell SKF and go short again. Prepared also to go back falling market conditions as well.

I've got my eye on the S&P and QQQQ to get a sense if this is a pullback or trend change and will trade accordingly.


Out long TCK and trading it the other direction as well.



Prudent to take profits on some of those moves. Never be afraid to take the money offered. You can always get in again or trade them the other way.

SKF trended nicely to $46.














ERX looks stalled















GG shows a doji
Uptrend momo is strong ERX, GG, TCK longs SKF short working. The new high in gold (GG) is what tipped me off that markets were going higher.


Have to take those profits in SKF and ERX and trade then the other direction.

ERX














SKF
SOme gold stocks hitting new highs means that I will keep a wary eye out for more unusual moves and not be married to trading in any one direction until momo clearly shows itself.

GG


With the momentum pointing downwards I'm going with some inverse ETFs for a pop and also shorting anything else.


S&P and QQQQ













SKF