New blog

Henceforth I will be posting on my new blog http://bankrobbertrades.blogspot.com/

FnG blog will remain active for archival purposes.

Q games

Similiar to the morning QQQQ game it did the same thing here. My cue to exit my long was the lack of volume on the pop. Notice how the volume is lower on the last green up candle then the preceding one but the price kept rising. Only in bizarro world does that stick so it said to me sell the longs and go short. It dropped rather violently for 20 minutes after this.

Pay attention to these signals!

Get ready for the afternoon sesh, it may be a good one, lots of market movement today.

at the same time I shorted FTI below, I also shorted TNA. Same thing , I was waiting for the false uptrend to end. It was so obvious its like I had a crystal ball telling me what to do. Down it went. Perfect entry perfect exit

TNA short

TNA cover,profit taking and long

TNA sell, profit taking and short

This market pop I went along with for the sake of following the path of least resistance but I was looking for when this false up move would end. Frankly I thought nobody really wants to buy this crap today.

FTI short

FTI cover, and profit taking

Some good trading today. I woke up early this morning because I had something stuck in my tooth. Anyway, the markets looked weak so I took FTI short among others.

First chart is QQQQ after it does a no volume pop. I added to my postion here, chances were that it was going to drop. It did.

FTI short

FTI cover, taking profits and going long

Crash

keep on your toes, there is a lot of money to be made today while the markets are crashing

increase your size, push it, play the pops when they come.....

Tasty TNA part 2

TNA continued to give good entries all day. 15 minute chart showed a doji at this point so a short back on the original trend suggested the best direction to trade in. Once momo took over, down it went.

TNA short entry

... profit taking 5 minutes before the day ends.

Buying bottoms

As much as I like to short the lows and buy the highs, sometimes a stock just screams out it is done dropping and is ready to reverse.

The near doji and huge volume on FTI said to me that the sellers were done for a while and the buyers were ready to take over. Then it was a short again

first chart FTI long

sold FTI

shorted FTI

cover FTI

Tasty TNA

With a small .01 spreads, huge volumes and large daily trading ranges , I find that trading the ETFs like TNA, FAZ, FAS, ERX and others provide everything that an active momo trader needs.

TNA today provided some tasty profits from clear signals with no hijinks. By the time I rolled in an hour after the open, TNA was making new highs but I could see that the strength of the move was waning. Then the Nasdaq test codes ZWZZT appeared on the new highs list first $2020 then the new lows $5. Sometimes this is a precursor to a big move. Possibly Nasdaq sees the orders lining up and want to test their operating system. Whatever the reason is, the markets fell. Watch for it and see for yourself.

First chart is TNA short entry

Second chart is cover and profit taking and went long

Sold the bounce and short again

Cover and profit taking