Evening trading US shares

[Grey1]

Only one trade up until now due to having few guests here. I had a short signal on AMGN on Monday but due to Take over of MEDI by AstraZenica yesaterday the sector was spiked so I kept away from shorting it ,, Today on the first sign of weakness I shorted AMGN knowing that momentum traders are out the way . I also had a short signal on X ( USX steel group ) but the stock had already fallen $5 so I did not bother.

Again I would say Muchas Gracias Mr market,, ( No program Trade to day due to some technical issue beyond my programming Knowledge )

 

[Grey1]

Final result
Could not concentrade on the market to day due to mass gathering in the house. So not many trades.

I had to close my perfectly good long RIG postion due to the above reason again

I had to close RIG @ 83.41



grey1

 

[chris_ri]

Final result
Could not concentrade on the market to day due to mass gathering in the house. So not many trades.

I had to close my perfectly good long RIG postion due to the above reason again

I had to close RIG @ 83.41



grey1

Hi Grey1,

Consistent results as ever, are these signals from your Vwap engine or other?

All the best,

Chris

 

[The Beyonder]

Not the best of days today but still managed to eke out a little something.

CXW -7c, NCS +61c and SPAR -22c

 

[DiscoPete]

Good trading Beyonder!

I found it hard trading this evening, did anyone else?
Could only manage a 7c profit from INTU, it just hovered around the low all evening but still a profit is still a profit!
Shares that were at the low of the day rebounded to the mid range and shares at the high of the day also rebounded to the mid range so was finding it hard to find some decent trades!

 

[Grey1]

Hi Grey1,

Consistent results as ever, are these signals from your Vwap engine or other?

All the best,

Chris

Chris ,

yes it was from the original vwap engine as my program Trade was not working today.
, so i had to manually execute the trades,

RIG trade went up as I thought It would ,,,,


Grey1

 

[Grey1]

Good trading Beyonder!


Shares that were at the low of the day rebounded to the mid range and shares at the high of the day also rebounded to the mid range so was finding it hard to find some decent trades!

This is called mean reversion and stock often bounce from upper and lower vwap bands.. You should hedge two postions against each other eliminating the market direction ,, I have explained the technique on this BB


grey1

 

[gulam]

Final result
Could not concentrade on the market to day due to mass gathering in the house. So not many trades.

I had to close my perfectly good long RIG postion due to the above reason again

I had to close RIG @ 83.41



grey1

Iraj, awesome trading as always. I had an interesting observation from the trades you posted. Most trades on AMGN you took very small losses of a few cents, but the trade at: 15:41 short at 61.35, that position went against you quite a bit, it went to 61.66 (.25 cents) but you were still in trade for AMGN finally to collapse. I can't see any technical reasons why you would stay. Dow was going up too. Can you clarify this for me so I can learn.

Thank You as always.

 

[Grey1]

Iraj, awesome trading as always. I had an interesting observation from the trades you posted. Most trades on AMGN you took very small losses of a few cents, but the trade at: 15:41 short at 61.35, that position went against you quite a bit, it went to 61.66 (.25 cents) but you were still in trade for AMGN finally to collapse. I can't see any technical reasons why you would stay. Dow was going up too. Can you clarify this for me so I can learn.

Thank You as always.

Gulum,


AMGN has a high ATR . I am not sure what was my ATR reading at the time but I know in one 1 min bar it could swing 20C,, I would not allow BRCM ,YHOO,EBAY to move 25 against me but High ATR stocks need more to swing and show off their own thing ..

Grey1

 

[Grey1]

[Gulum

This trade is for you with perfect Entry on AMGN and also perfect exit lol

I had a short signal on AMGN , BIIB and long LRCX.. They all did what they were suppose to do ,, SXR is a uranium short swing trade ..

Muchas Gracias,,,


I am still short SXR

 

[Grey1]

No More trades as I am currently multi tasking sorting out my AutoTrader .

I took a small profit ( as seen in my previous posts ) on RIG yesterday and to day I again took a good chunk out of RIG..( the signal came yesterday )

Perfect entry on all trades except RIG which went 12 C against me if i am not wrong .

Grey1

 

[gulam]

[Gulum

This trade is for you with perfect Entry on AMGN and also perfect exit lol

I had a short signal on AMGN , BIIB and long LRCX.. They all did what they were suppose to do ,, SXR is a uranium short swing trade ..

Muchas Gracias,,,


I am still short SXR

Iraj, with entries and exits like this, one has to think either your genius or your a market maker on AMGN! Truly awesome!

I look forward to seeing you trade live like this.

Thx

 

[Grey1]

Iraj, with entries and exits like this, one has to think either your genius or your a market maker on AMGN! Truly awesome!


Thx

Nah , I am not genius . Its is called LUCK ,, but you still have to make ur luck .

I am still thinking why is there such a divergence between market and RIMM coming to the close. Hmmmmmm Any body can help ? I would love to LONG KLAC as over night trade. I might even do that ....KLAC looks crafty to day perhaps it wants to gap up to morrow . Hmmmm

On the other hand DOW is OB and we might have a weak opening 2morrow taking NASDAQ down with it which means KLAC might gap down before showing strengh .. Nah no over night Trade




grey1

 

[PitBull]

Yeah ,were at an important juncture, the SOX has just broken out of an important level, thats why the nasdaq was laggin the overall market, but now were in bull mode, techs will be bought like no tomorrow. The SOX rules the nasdaq, QCOM, KLAC, NVDIA and other big names will be ones to look at. Great trading Iraj.

Look for the pullack in the SMH as overbought, then watch the market take off. Just my 2 cents.

Muchas Gracias

 

[Grey1]

Yeah ,were at an important juncture, the SOX has just broken out of an important level, thats why the nasdaq was laggin the overall market, but now were in bull mode, techs will be bought like no tomorrow. The SOX rules the nasdaq, QCOM, KLAC, NVDIA and other big names will be ones to look at. Great trading Iraj.

Look for the pullack in the SMH as overbought, then watch the market take off. Just my 2 cents.

Muchas Gracias

Thanks Pitbull, I keep my eyes on SMH .

 

[Grey1]

After furhter analysis I convinced myself to accept the possibility of weak opening on Tech stock and went 2000 LONG KLAC last night as seen . I will post the P/L later after I close the postion .

 

[Grey1]

After furhter analysis I convinced myself to accept the possibility of weak opening on Tech stock and went 2000 LONG KLAC last night as seen . I will post the P/L later after I close the postion .

Grey1 took profit by selling 1/2 postion .. I am looking for a good divergent hedge against my long KLAC to reduce risk . I might go short Gold against it ,, We shall see

 

[Grey1]

No more trades for the next 2 hours , I be back later to take more trade.


By the way any body looking @ KLAC to day ,, KLAC was showing strength yesterday even though it was only up 15C up .

Muchas Gracias.

 

[timaru69]

Hi all

Sometimes it doesn't always go to plan. Entry price around 42c level on fills

Here is a trade on EXC that I thought was looking good to break through the 50c level, evrything looked ok on Level II . Then all of a sudden prices drops 30c in the blink of an eye.

Have attached chart and T&S. The list of orders in that second was so long that couldn't all fit onto the page

Price never recovered.

My breakeven trade cost me about 25c

 

[Grey1]

Hi all

Sometimes it doesn't always go to plan. Entry price around 42c level on fills

Here is a trade on EXC that I thought was looking good to break through the 50c level, evrything looked ok on Level II . Then all of a sudden prices drops 30c in the blink of an eye.

Have attached chart and T&S. The list of orders in that second was so long that couldn't all fit onto the page

Price never recovered.

My breakeven trade cost me about 25c

There is a perfectly technical explanation for the fall.. $ INDU was weak and program trades sell into the first sign of weakness. I have designed my own program trade to do just that ..

TO avoid this happening again always watch OB and OS levels on 10 min INDU and never ever go long when INDU is OB .. From what I see on my chart , INDU was OB and turning and to go long @ that point was asking for trouble,, L2 is of no value what so ever when it comes to such scenario's . In fact it is 100 % use less because program trades can take a stock down when they all execute at the same time so fast that you cannot even get the chance to stop loss. This approach is called TOP DOWN approach and is well known in our community . Hope this helps

Grey1