Wednesday, May 15, 2013

May 15

lots of data coming out at 8:30 and 10...

top of channel... on low vol.

A pullback to the rising TL makes sense today --  we're running out of buyers at extended levels.

TSLA, DDD  momo names are out of gas.
nvmd -- tsla green again.

soda, nflx, goog, gmcr green...     hard to commit new money up here on  extended charts.

DB green -- usually a bullish sign.
soda, nflx, mygn, tsla, goog, fslr, meli, yhoo, aig, gild green -- shorts might just get jammed again.

today's mistakes: Had two trades that would have paid the bills but took them off way too soon. You don't know what's going to happen.  Can't cut your winners short.

what I did well: Had 3 losses and I let the stops take me out and did not get crushed at all. 

Best trade I saw all day was a short on the classic WEDGE and b/d for /tf

/tf Another ripper but sellers finally got some action

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