falling:

/gc --  morning -  in freefall   down  30/oz.      /gc finally crashes to 1525 --  nice round area of support and bounces  10 pts.  --  safe to enter on downtrend break near 1528 for   5 or 6 pts.

 When trend is strongly down --   wait for washout  -- drop to 1525 was huge candle.   Exact bottom at 1525 good clue there's too much demand / covering and may see bounce.

trend down day trade:

internals  - strongly bearish...  the key was to do nothing -- and wait until 3 pm when the cover trade comes in ---  /tf moved 10 pts --   no way to fight it.  Getting long early won't work. but end of day will likely be a very easy trade with confirmation in  bonds getting weak and -- like today - the euro bottomed off an old low established on Oct.       On Twitter, permabears were covering with glee -- so it was clear the trade just needed the last half hour for the move. 

VRUS:

good choice -- strong name...

weak market required a longer waiting period after gap up -- dropped to near gap fill then bounced, higher low -- and then easy entry for 1.20 or more.  

opportunity for bounce was again at whole hour   (11 am -- a bit earlier than that). 

goal:

identify support level.

enter trade
set stop
raise stop as trade moves green

HOLD trade for target area.  Do Not Sell unless target or stop hit.
Focus on ETFs.  do not micromanage the trade.

daytrade:

pick strong stocks in strong sectors --- on strong signals.    Don't overthink

best trades:

only watched half the market but the market was deep red and TZOO, CHKP, AAPL were up strong... so these were the ones to trade for a squeeze and indeed -- they all jumped into the close,  SINA too.

With TZOO, and CHKP --- vol. was particularly strong -- there was little risk here ... and lots of upside despite entering extended conditions.

 IWM was down big and had a feeble bounce. 



  main ideas:  1. You can't control what you'll make.  You can control how much you'll lose.   

2.  Trend trading must focus on strongest stocks always -- regardless of your feelings on value.

mistakes

was attempting to fade the market after 3 bump set up in TZA emerged -- kept a wide stop and took bigger than normal loss.

attempted TZA again end of day --- stopped again.

Almost took SODA on breakout -- was the leading IBD name... but chickened out..  ran 2 pts. in a hour after I saw it move. 

Will need to be willing to go with strength... keep the stop tight... it'll work or it won't.  But contrarian fading is no good intraday.    failure...