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Tuesday, April 25, 2006

Tuesday's action

posted by Tom C:

I lost on DSCO - I bought a break of the 2nd bar high and I was quickly stopped out. But, I more than made up for it with ZRAN which was a rocket. I will post a chart tonight - post your trades in the comments and have a good day!

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16 comments:

David said...

dsco was dissapointing. but, dovp was similar and worked out...nice zran.

5150 said...

X...you are human......you finaly showed a loosing trade.....I wondered if you were an automated system......LOL, keep up the good work..

Chris said...

JBLU above the Fib extension. The X classic!

Barb said...

Also like DSCO, CVC worked well.

Trader-X said...

Good trades. DSCO was a good set-up that didn't work, but I would take it again tomorrow. And Cramer is getting richer today - TSCM up and like JBLU mentioned earlier presented a set-up above the Fibonacci extension and a good .50 move.

Trader-X said...

posted by Tom C:

5150 - actually that was me (Tom C.), not X with the losing trade (though X said he would have taken it...)

Look through the blog and you will find a handful of losers. But, having seen him trade I can honestly say he does not lose a lot. He scratches his share, but doesn't lose much. That is beause he does not overtrade, and he focuses on high quality set-ups. Something he constantly harps on here.

Anyway, I am not as selective and tend to overtrade, so I have losers more often. But as long as I can get a ZRAN every few days I am happy.

Sam said...

Short CNET with about .30 profit, hoping it breaks down in the next hour.

Dave C said...

Tom, where did you enter on ZRAN? Break of the 2nd or 3rd bar?

Trader-X said...

posted by Tom C:

Dave C. - a break of the 2nd bar high, though a break of the 3rd bar high was also a valid set-up on top of the or high.

Trader-X said...

Tom C:

Good job on CNET Sam...hope you sold into that drop.

Tommy said...

A quick hit as TX would say, DECK on a break of the 2nd bar high.

Anonymous said...

Volume...how does one figure the volume cutoff? greater than 30 davg normal vol in the first 1/2 hour? some of these gappers have an day avg of say 200,000-250,000 but by the eod they're way above a million.

omg said...

i am curious how often you guys trade against the gapping direction? like go long on a gapping down or the other way around. And under what criteria?

Trader-X said...

posted by Tom C:

re: volume - I don't consider average daily, I just look at that day's volume. I sort my list by volume and tend to focus on those candidates at the top (with the most).

re: trading against the gap - I have never analyzed how often I do it...as long as a set-up is valid, I don't care much about whether I am trading with or against.

Anonymous said...

Tom C.
Volume: Do you sort it premkt or after the open...say 15 min or 30 min or...?
Thanks

Trader-X said...

posted by Tom C:

I don't look at pre-market volume. My list updates automatically, so it is always current. I only look at volume once the market opens.