Not a Stellar Morning for Me

Posted on July 19th, 2006
Written by Richard
Posted in: N/A (old archives)

As if to add insult to injury, this is the second time I’m writing this post. The first time, I accidentally closed the window before posting!

Most of my watchlist is geared short, so you can imagine most of my stocks are moving away from my entry levels. Normally, at this point, I would be watching Trade-Ideas for, well… ideas. But, my feed with them appears to be screwed up today, as my Trade-Ideas window says it’s connected, yet it remains blank.

I had expected Rambus Inc (Nasdaq: RMBS) to continue down, as it closed just under my 19.75 pivot from yesterday. A good sign! But, instead of an orderly continuation, it gapped down to 17ish. In a market this strong, I’m not touching that! As of this writing LSI Logic (NYSE: LSI) hasn’t yet pushed above my original short entry of 8.40. If it turns back around my next short entry at 7.60 will still be valid. The one long still on my watchlist is Qwest Communications (NYSE: Q), but it has a little ways more to run up.

So, there may not be any trades for me today. Why is it, that all the strong up days leave me on the bench? I need to work on that. Everyone that knows I trade stocks always expects me to have done well on these days, as if I just hold a basket of dow stocks.

As an aside, last night I started watching two video blogs on stock trading. It was just a matter of time, I guess. I may try it! It looks fun, although my charts will not look as fancy as theirs, since I don’t use any fancy charting software. Anyway, they are alphatrends.blogspot.com and trade guild. The latter seems to focus more on low-priced stocks, but it’s still interesting to hear how their analysis goes. They seem to pay a lot of attention to MACD divergence over there. Alphatrends does a review of the major indices every day, it looks like.

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