Today I traded GS. It stalled out at the opening range high, and I sold for a small profit. It is interesting to note that it rallied to the Fibonacci extension later in the day, so if you had more patience than me it would have been a nice winner. But I do better getting out at the first sign of trouble, so I'll take the few dollars I made.
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10 comments:
Good analysis of a not so perfect trade, Todd! What do you think about SINA today? I know it was later than your time for taking trades, but the hammer at 11:15 was a perfect trigger and it ran to the Fibonacci extension.
Michael
I'm enjoying these Todd. Hope you stick around!
Todd glad you are posting nice to see how others trade. Thanks. On a uber bullish day or stock all time periods work well:5,10,15,30. I limit myself to the 90 or so Weekly Optionable stocks of which GS is one and there is always something going on with at least one of these stocks. On stocks that don't gap the 15 or 30 seem to do better imo. You can see the reversals on say a group on commodities or banks on the 10 min. They seem to lock step together more so than the different nasdaq ones. PCLN is a wild one that seems to move with the commodities/dollar. Gap on!
thanks, this is a nice trade, good to get out when there is sign of danger...
CTAS was another good one today that while not fitting your exact parameters, provided a nice gain. I like this setup.
Michael
TDC today, entered at 12:10EST.
This is a good setup Todd, thanks. The more I look the more I see variations. You just gave me something to study over the holidays. Good trades posted by Michael as well in comments. Thanks for sharing!
Friday, NFLX, hammer at 10:05. Didn't make it to the extension, but nice gainer. Happy Holidays!
Hey Todd, enjoyed your posts. Hope you make it back for a few more. I think SINA today was a good setup following your rules. Short on a break of the 8th bar low? It bounced around but eventually hit the Fibonacci extension. Would like to hear your feedback.
Nathan
Like this setup. Thanks Todd.
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