Welcome to the Trader-X blog!

> TRADEthemove.com - my thoughts
> meditationSHIFT (formerly "tad")- just say "om"

Tuesday, January 16, 2007

SYMC - 011606; 15-minute chart

That should read 011607, not 06!

Regular readers know that I do not pay attention to - or try to game - the overall market conditions. I take good long or short set-ups as they come, and rarely look at the major averages.

But I admit I entered today with a short bias because of the nuclear bomb exploding last night. And then I remembered it happened on "24". Oh well...

I was watching SYMC; it gapped down and attempted to rally but quickly rolled over. Bars six through nine consolidated in a tight range above the OR low, and had a declining 5MA providing resistance overheard.

I entered on a break of the tenth bar low - the tenth bar was weak and closed below the OR low. The target was the Fibonacci extension of the previous day's high to the OR low; it was never reached and I closed SYMC at the end of the day for a 3% gain.

Note - I had to turn on word verification for "Comments". The spam is getting heavy, and I am tired of having to delete it every few hours. I am sorry for the added step - but please keep commenting and posting your thoughts/trades!

, , , ,


Barry said...


Is Curtis really dead?

lbcando said...

I was tempted to trade symc but I backed off because of the potential support of the 200 mavg on the daily. Did this play any factor in your taking the trade?



estocastica said...

Note to self: Do not read the Trader-X blog prior to watching 24 on TIVO. In addition, do not read the comments.

However, I expect no sympathy, because I should have just watched the show last night like everyone else! Where's my dedication? Oh well, just another valuable lesson learned by the strong fist of Trader-X.

SYMC was really nice. I wussed out on KNOT.

Trader-X said...

lbcando - no, I don't look at timeframes other than 15 or 30-minute.

esto - sorry about that!

estocastica said...

Don't worry about it...I should have watched it last night like the rest of the world!

I really enjoy the way you integrate non-trading content (such as 24) into your trade analysis; you are a skillful and humorous writer.

greytrader said...

I must be doing something right as I am trading a lot of the same setups :-)
However I exited SYMC on a break of the 21st bar... :-( leaving a good chunk of money untapped. What would have stopped you out of this trade ? My reasoning was 21st bar closed above 5MA and 22nd bar broke 21st bar high.