meh… not a very eventful day. It’s basically covered on twitter…
-
I saw GSIC, but passed on it because I didn’t think the 5MA was close enough to it after the 3rd 15min bar. But, that fourth bar shot up so much that it caught the 5MA up to it by the end, which makes me look dumb after the fact. Oh well! Eyal got it, but implied that he sold parts of his position well before the end of the move.
-
I was actually going to short GSIC when it finally broke its upward trendline, but by then we were getting close to Fed time, so I didn’t.
-
I looked for stocks near their OR highs just before 2:15, and settled on STLD to trade, if the markets went up. I grabbed 1.08 R on it, but at least one big seller was using the move to dump shares (which was smart of them), and made things pretty erratic. DHI and other depressed stocks had much nicer moves, but I naturally avoid bottom-feeding so I missed them.
-
I forgot again to just trade QLD and QID and be done with it. I would have made more money than I made off STLD, going that route, without any of the stock selection hassle. I have mentally categorized QQQQ as not worth trading, because its range as % of its price is usually not great compared to faster-moving stocks. But, in market-moving situations, it and QID/QLD are actually a pretty decent choice.
As usual, I’ll only be trading part of Thursday, if at all, due to my super-exciting action-packed social life.