Monday, December 10, 2012

Mon 10th notes:

strongish premarket:

/tf 824

/cl  touched 86.70 --  touched TL on 5 min chart and retraced -- perfect technicals.

euro bounced

/tf  +.24    /es  red -- so RISK ON.  

AAPL  -1.2%

FCX, oil , gold strong.

advn-decn   flat....    grind in the range.       rangebound

be patient....

825 -- got in some TZA for a fast $110 move -- shorted into resistance 1.

/tf -- bounce to new highs -- stophunt

advn-decn  +500   /tf   826.2  --     827 is the stophunt area -- so really can't get short yet....

INVN -- working --    high vol.    options buying....  on screen.... breakout on daily -- correct move is... to hold.

in tza 14.90.   /tf topped out near previious resist.  The trick here is really - to be a Low Frequency Trader and get out at the BOTTOM of the rangetest.   Or just lose $50 on the stop out.   But to take a partial is the old way of thinking.

/cl 85.33 -- massive puke near  pit close -- should be bottom.   took out stops on low side.

advn-decn +90  not much uummph.   pcln, amzn, aapl, ebay  resting hard.

expecting a close near VPOC  /822   /tf?

why did I get it right today: 
1) INVN -- focused on a strong name / strong chart --- did that well.  Used my screen.

2) TZA -- hit and miss but ultimately got some...  focused on good chart reading -- support/resistance.  I was patient.  (But not enough.)   I correctly saw that we would probably stay in a range.

3) MDLZ:  bought another strong name, on a nice daily chart.

= It's easy to know what you did wrong, but every day -- if things go okay -- make sure to spend a moment go over what you did right.  And maybe tomorrow -- you'll do it again.

/tf --- pushes to 826  strong close.... can't fight low vol.   Was no easy day.

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