Tuesday, February 5, 2013

Tues Feb 5

/tf up .48%  overnight ramp

short /tf  903 -- triple top +  5/34 xover + TL ramp break.   7t stop.  Have to take this.

/tf - 902 - quick 10t.  Nice to see something work instantly -- as it should.

Being smart is a liability.  You are not smarter than the market.  Thinking you're smarter makes you dumber.  You ARE the market.  So be the market -- be in sync with the flow -- the jellyfish.  The salmon fights the trend all day long and dies in the end.  The jellyfish just floats around and stuffs its gob with.... jelly. 

/tf - stop lowered to +1t.

still in /tf short...   by the rules.

just about stopped out -- strong premarket signals.   tech, europe, gold, financials


out /tf  +11t      now -- what I just did was cover early -- THINKING - the stop will hit so I will outsmart the market and win 2 extra ticks.   Market now turning back down - it's possible I will give up 10 or 20t to save two because I started 'thinking' instead of 'playing by set rules'.  

well -- saved 2 ticks after all.  5/34 xover  /tf --  902.1  at 9 am.

/tf  stable   902.3

WPRT - gap up over 20 day

AD - +1400

but tf dropping...

Market Signals are strong.

long /tf --  9:50  --   PUSH.

10t stop.  8t   target  HoD

OUT --    +26 for the day.


10:03 - BULL SIGNAL   

/tf 904  nhod

10:09 bear signal

preemptive SHORT -- on signal  -- take it because risk is HoD  (7t)

-5t -- and out    that was OFF PLAN -- you were trying to be smarter than the market.


out - NO XOVER -- 

down to 18t of profit.

Market Signals are strong --   why fight it?  Your timeframe is intraday.  Easy to rally hard in a downtrend for an HOUR or TWO --.  

TF  905  NHOD

ad  - TOPPED OUT  9:52.

UD - strong - -no reason to short yet.

the feeling "too high" or "too low" is a judgment call -- and a good sign you are going to make a mistake.

There is only price, patterns, and charts.

ABMD -- continuing - and HAIN -- those charts were fine.

XLF -- doing fine above 10 day MA -- trend up.

IWM - double top -- difficult area to battle trhough but  STRONG signals.

UD-- still climbing

11;06 --  Sell Signal

short  11:16 -- 2ndary  break  5/34 xover. 

Market Signals weakening

covered  for1 tick --

drop wedge break to upside....  more strength. 

RULE:  if daytrading a stock -- it must be STRONG.  I know that sounds obvious... but it's sad how often I break it.

AD +1300  no good reason to get short.

ABMD  +4%

11:38  bear signal

5/34 xover short 905.2  -- 6t stop.

break/inverse double top/ xover  pattern -- usually reliable

/tf -- today's HoD was just above yesterday spike in the morning -- before the plunge -- this was an easy target to see on 5 min ch.

/zb -- confirms  11:48

went to workout -- chop all afternoon -- great choice... missed nothing as I expected -- gained a workout.

WLL higher
ESRX higher

UD climbing ALL day
AD +1300

bulls in charge

UA, GNC -- sloppy high tail stocks -- don't play these.

PRGO -- another  -- too choppy -- don't play it.

3 pm:   still going?

internals are strong as ever...

/zb --  xover bullish

3:23 -- hmmm....

instincts say -- go long 907.8 -- catch 20 tick rip into close??? strong finish?


3:35 -  sell signal

GLF, WLL , ESRX  IACI  EDAP   --- all kinds of strength

5/34 xover but
UD -- climbing -- says we close at the highs

/tf -- clear rollover signal -- I'm not taking it because Market Signals barely support it.

TICK - -nlod

long  5t stop --  rolling with the Market Signals --

stoppped out -- THIS WAS OFF-PLAN.  It made a lot of sense but it was not following the basic plan.  These trades look so good... and so rarely work.

hain --  GIVES IT ALL UP.  ER are death.

GLUU - LOL.  Price action forecast a miss 3 days ago -- selling all day...

/tf bulls back in control

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