I was going to take the day off, because everyone seemed to be focused on AAPL and BIDU (neither of which I like to trade), and the markets had another gap opening. Since I usually take a couple hours off each Thursday anyway, I thought it would be nice to just extend that outing.
But, I was in a good mood when I got back home around 2PM EST, and decided to try to find a trade in the last two hours of trading. I found two trades, and took one of them. Both would have been winners. Here’s the video about the trade I took, in Psychiatric Solutions, Inc. (Nasdaq: PSYS).
I didn’t mention it in the video, but my entry corresponded to a long signal on my short-term PnF chart. I always check all of my charts before taking even a tiny trade like this! Any warning signs, and I usually choose not to put my money in harm’s way.
There was some nice discussion on trend following today on wallstreak. The biggest thread was here, but there were others (all in the futures room).
| Stocks Mentioned In This Article | |
|---|---|
| Stock | Links |
| PSYS |  |  |  |
July 26th, 2007 at 8:10 pm
Nice trade. I love the method you use in trading. Very cool.
July 27th, 2007 at 6:45 pm
thanks, Zoomie. It’s been stressful this week! I’m hoping to catch larger runs if things would calm down a little. Either that, or I will have to roll up my sleeves and start using wider stops.