[INTRA-DAY ACTION]
Interesting day for a few reasons here today.
XLY is still holding the channel superbly and if this breaks it it should represent a strong short. Market has sold off quite a lot from highs today, lots of stocks failing simple setups so I continue to believe this is the top of the bear market rally.
IP has defied the chop this week and has surpassed the initial watchlist target (opening gap above it) which is really good. Naturally I am delighted to have missed this trade, and I hope I can get some long term benefit from the course about "stuff I already know about, and by the way I'm missing the setups teacher" at college. Nice chart
DRYS trigger from the 50ema remains intact, and the clear trading range here in the short term is $6-$7.30. Has sold off hard in the last hour and closed the gap. Next entry areas are over $7.35 or a trade at $6 short or long depending on market at the time. For some reason I continually get JBLU mixed up with DRYS. Is it the price level and volatility of them both?
DOV really popped out of that descending wedge strongly this morning after testing the lows of the support area. It looks like an easy setup but the DOV trade has been hard this week given the variations in support levels in the range. Sell area at $32.25 triggered and it too is selling hard. Is this what is sounds like when DOV cries?
SOHU also sprung nicely out of a declining volume pullback on to the 200EMA. I don't like this setup however, given that it dropped so far before clear prior resistance before bouncing. I like something with a little more respect for historic price action - so I won't post the chart.
Going to listen to some Prince now that the song is stuck in my head.
- Choppy with 2 quick losers
- Quick unexpected jump in one triggered SEC PDT regulations
- Account flagged as PDT and banned for 90 days or until I have $25k
- TOS support desk rescues me with an request to remove ban
- Ban appears to be lifted from Tuesday
- IP Target hit and then some
- Battle at DRYS with S/R at the moment
XLY is still holding the channel superbly and if this breaks it it should represent a strong short. Market has sold off quite a lot from highs today, lots of stocks failing simple setups so I continue to believe this is the top of the bear market rally.
IP has defied the chop this week and has surpassed the initial watchlist target (opening gap above it) which is really good. Naturally I am delighted to have missed this trade, and I hope I can get some long term benefit from the course about "stuff I already know about, and by the way I'm missing the setups teacher" at college. Nice chart
DRYS trigger from the 50ema remains intact, and the clear trading range here in the short term is $6-$7.30. Has sold off hard in the last hour and closed the gap. Next entry areas are over $7.35 or a trade at $6 short or long depending on market at the time. For some reason I continually get JBLU mixed up with DRYS. Is it the price level and volatility of them both?
DOV really popped out of that descending wedge strongly this morning after testing the lows of the support area. It looks like an easy setup but the DOV trade has been hard this week given the variations in support levels in the range. Sell area at $32.25 triggered and it too is selling hard. Is this what is sounds like when DOV cries?
SOHU also sprung nicely out of a declining volume pullback on to the 200EMA. I don't like this setup however, given that it dropped so far before clear prior resistance before bouncing. I like something with a little more respect for historic price action - so I won't post the chart.
Going to listen to some Prince now that the song is stuck in my head.
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