Friday, June 13, 2008


Took five trades today, lost on 2.
CSX - long, small loss
CLF - long, gain
DO - long, gain
GS - short. loss
GS - long. gain
The first two trades of the morning were CSX and DO. CSX gapped up, retraced and looked like a bullish flag pattern, so I went long on a break of the flag. It moved slightly in my direction before reversing and I walked away with a $0.15 loss.
DO had a tight base forming this morning that coincided with it's previous day resistance, I went long on a retracement of the breakout.CLF was a base break setup. I missed the Opening Range base break.GS; Initially I took a short position as the general market was looking weak (and SKF was on the run). After the tweezer/rounded bottom (the rounded bottom stands out more on the 15-min chart) I went long based on the guidelines with the Klinger Oscillator.

No comments: