belflan's US stock intra day trades

[belflan]

I'm starting a thread to post my intra day paper trades

currently in YHOO, AMZN & AMGN as per attachment, ignore the APPL chart

all comments welcome (well nearly all)

cheers
Glen

 

[belflan]

Reason for above trades =

10min Macci indu O/B
5min Macci indu O/B

YHOO, AMZN, AMGN, weak compared to market (indu)

will exit when 10min Macci indu goes O/S or start to turn at lower level

Glen

 

[belflan]

uhmmm,

AMGN now showing strenght compared to market

should i exit?

 

[belflan]

TS2 has fell over two times since market open

CPU running between 50 -85% usage

 

[belflan]

will the market come back,

or is it heading for heaven

 

[Glenn]

will the market come back,

or is it heading for heaven

Market is strong today on news.
Technicals not so useful, staying OB on 5 and 10-min macci.

Should have been Long, not short imho.
Only the 1-min INDU macci upturns have been any use up to now

Of all the different types of day I find these the hardest to trade because the technicals are mostly out of the window.

Glenn

 

[belflan]

close AMGN at 40.95

short BBY at 43.72

 

[belflan]

loss on AMGN = $381

reason for exit = strenght in relation to market

 

[belflan]

Market is strong today on news.
Technicals not so useful, staying OB on 5 and 10-min macci.

Should have been Long, not short imho.
Only the 1-min INDU macci upturns have been any use up to now

Of all the different types of day I find these the hardest to trade because the technicals are mostly out of the window.

Glenn

thanks for the post Glenn

when you say news, i take it you mean the BS story?

JPMorgan in Negotiations to Raise Bear Stearns Bid - General * US * News * Story - MSNBC.com

Glen

 

[belflan]

TS2 fell over again

now up and running

Glen

 

[belflan]

Market is strong today on news.
Technicals not so useful, staying OB on 5 and 10-min macci.

Should have been Long, not short imho.
Only the 1-min INDU macci upturns have been any use up to now

Of all the different types of day I find these the hardest to trade because the technicals are mostly out of the window.

Glenn

Glenn,

did you think this would be a non technical day before the market opened, based on the news

cheers
Glen

 

[belflan]

all positions closed

 

[belflan]

Running total

running total = -$546

above trades exited due to 10min macci indu starting to turn up & market moving higher

Glen

 

[belflan]

will only be looking for long entries now,

market strong, and looks to be staying strong

Glen

TS2 fell over again (i think that's the 4th time today)

 

[Glenn]

Glenn,

did you think this would be a non technical day before the market opened, based on the news

cheers
Glen

Well yes (doesn't mean I knew I would be right though)- the news came out premarket that there would probably be an announcement during hours, and later on the news was confirmed. Futures were up pre-market, market upened up strong.
When you see the 1 and 5-min INDU Macci staying OB you have a good indication that the market is strong. It was OB in 60-min and 30 min too and these made no diference.
Up she goes. Buy the dips.

It can be tempting to short on 10 or 5 min OB but you have to sit on your hands and wait.
That's your job - being a Waiter - lol.
Top of my log every day is one question - News Day or Technical day ? When I get that wrong I start off with losing trades and have to fight back later.

Glenn

 

[belflan]

Well yes (doesn't mean I knew I would be right though)- the news came out premarket that there would probably be an announcement during hours, and later on the news was confirmed. Futures were up pre-market, market upened up strong.
When you see the 1 and 5-min INDU Macci staying OB you have a good indication that the market is strong. It was OB in 60-min and 30 min too and these made no diference.
Up she goes. Buy the dips.

It can be tempting to short on 10 or 5 min OB but you have to sit on your hands and wait.
That's your job - being a Waiter - lol.
Top of my log every day is one question - News Day or Technical day ? When I get that wrong I start off with losing trades and have to fight back later.

Glenn

yes, i see what you mean, the question News day or technical day? must be one of the hardest to answer pre market open (expreince needed)

thanks
Glen

 

[belflan]

tempted to take the turn on the 5min for long

BUT I WON'T!

Glen

 

[belflan]

When you see the 1 and 5-min INDU Macci staying OB you have a good indication that the market is strong. It was OB in 60-min and 30 min too and these made no diference.
Up she goes. Buy the dips.

Glenn,

on news days, do you find yourself buying/selling pull backs or do you just leave the market alone, and wait for a day not driven by news so much?

cheers
Glen

 

[belflan]

suprise figures on home sales could also be helping the market along

Glen

US Existing Home Sales Rose 2.9 % in February - Retail * US * News * Story - MSNBC.com

 

[Glenn]

Glenn,

on news days, do you find yourself buying/selling pull backs or do you just leave the market alone, and wait for a day not driven by news so much?

cheers
Glen

Erm - I need to get paid for sitting here. Got to get the kids back on meat ! lol

Glenn