[INTRA-DAY ACTION]
Pre-market banter:
Much doom and gloom overnight, although there has been a slight rise in the futures I believe this will be a continuation flag as I continue to be bearish this week. Earnings on APOL today which is in a nice consolidation range at the moment between $79 and $75. Any breach of these gives an entry so it's something I'll keep an eye on premarket.
Oil still below $50 which should help my open trade in EXC today, although this could jump at any point. Depending on the opening price I may or may not adjust my stops and limits here.
I wonder if there will be any life or rebound in LNC today. Elsewhere I'm going to start tracking LDK as I like the chart setups there.
I also signed up at Covester yesterday so check it out. It's a site that automatically tracks your trades and has a good community of solid traders, so it should be a good thing.
Charts, setups and news to follow after the bell.
Update before the bell:
Looks like we're going to open higher here, potential for a small gap. However I remain bearish given that the futures are currently ascending wedging into the 200EMA on the 15minutes as part of a bear flag.
Update 15:42 GMT:
LONG APOL @ $79.15 - 123 Setup
SHORT HD @ $22.82 - Bear flag setup
Not too confident on HD at the moment, tightening stops. Charts to follow, kind of busy atm.
Update 18:00 GMT:
Real real ugly day for trading, really choppy and we just had a big pop that closed me out of my HD. My HD was looking pretty good for a while but the sector picked up as the market churned away. Closed out of my APOL too for a small loss. Didn't really enjoy trading these stocks today and I kind of feel I am a much better trader when I scalp on size.
Perfect chart setup on X to show later.
Update 16:40 GMT
You know it looks like I've shorted the only stocks on the market that are prepared to rally 2.5% off lows today. 1 cent off my EXC stop here.
Late in day chart:
Much doom and gloom overnight, although there has been a slight rise in the futures I believe this will be a continuation flag as I continue to be bearish this week. Earnings on APOL today which is in a nice consolidation range at the moment between $79 and $75. Any breach of these gives an entry so it's something I'll keep an eye on premarket.
Oil still below $50 which should help my open trade in EXC today, although this could jump at any point. Depending on the opening price I may or may not adjust my stops and limits here.
I wonder if there will be any life or rebound in LNC today. Elsewhere I'm going to start tracking LDK as I like the chart setups there.
I also signed up at Covester yesterday so check it out. It's a site that automatically tracks your trades and has a good community of solid traders, so it should be a good thing.
Charts, setups and news to follow after the bell.
Update before the bell:
Looks like we're going to open higher here, potential for a small gap. However I remain bearish given that the futures are currently ascending wedging into the 200EMA on the 15minutes as part of a bear flag.
Update 15:42 GMT:
LONG APOL @ $79.15 - 123 Setup
SHORT HD @ $22.82 - Bear flag setup
Not too confident on HD at the moment, tightening stops. Charts to follow, kind of busy atm.
Update 18:00 GMT:
Real real ugly day for trading, really choppy and we just had a big pop that closed me out of my HD. My HD was looking pretty good for a while but the sector picked up as the market churned away. Closed out of my APOL too for a small loss. Didn't really enjoy trading these stocks today and I kind of feel I am a much better trader when I scalp on size.
Perfect chart setup on X to show later.
Update 16:40 GMT
You know it looks like I've shorted the only stocks on the market that are prepared to rally 2.5% off lows today. 1 cent off my EXC stop here.
Late in day chart:
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