I entered PCU as an oversold bounce play as it falls to support.
The trading diary of Paul J. Singh. I trade full-time and empower traders by making the complex simple. I can be contacted at SinghJD1@aol.com
Thursday, January 28, 2010
Tuesday, January 26, 2010
Wednesday, January 13, 2010
Today's Trades: CAT, UAUA and TOL
I entered half positions in UAUA, CAT and TOL today. There are a number of good looking pullbacks, but they could get stopped out if market pulls back, and there is room for pullback before support hits.
That is why I took half size positions.
I also took profits in my last trade, short ACI based on the overbought setup.
That is why I took half size positions.
I also took profits in my last trade, short ACI based on the overbought setup.
Monday, January 11, 2010
Trade Entry: ACI (short)
I am short ACI at $28.05 based on the extreme overbought readings in stochastic, along with extended price action. This coal setup was featured in the Trade Report last night, for short on strength at the open.
Labels:
overbought,
rubber band setup,
Stochastic
Tuesday, January 05, 2010
Trade Entry: AMZN
I entered AMZN based on 1) the oversold stochastic reading and 2) pullback to the 50 day moving average. There is not credible chart pattern, but risk is low and the two elements listed give a slight edge.
Stop is below the moving average, around $129. The intital target is $140, followed by $145.
Stop is below the moving average, around $129. The intital target is $140, followed by $145.
Labels:
50 day ma,
risk reward ratio,
trend pullback setup
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