Well, it’s Tuesday, and I’m dead even for the week. Two trades: one win, one loss, for a total of 0 R. I am not finding this week’s market action very favorable for my type of trading. Volume is too low, and I am once again fretting about sudden market turns.

Monday, the trade was on AMR Corporation (NYSE: AMR). It was a short play. It stopped me out without even thinking too hard about going my way. I should have set my stop a little higher, to get over those morning wicks (not that it would have saved me). I’m okay with my choice of entry, but not entirely thrilled. Overall, I give this trade a “D”.

Today, I noticed Advanced Micro Devices Inc. (NYSE: AMD) early on via the TradeIdeas scanner. I got in long, and in hindsight jumped out a few minutes too soon. I was watching the trade, instead of walking away. I knew 24.76 was an important level from a couple days ago. I gave it like 4 tries to push through, and it kept bouncing off. 24.70 was my 1 R point, so I decided it was prudent to take my 1 R. For your amusement, I’m posting the chart that makes me look dumbest (StockTickr makes several available to me automatically)… I got out right at the bottom of a very green candle:

Had I walked away, I probably would have picked 24.90 as my target, and would have made a little more. Until after labor day, though, I may put my “ride your winners” hat in the closet. We need some volume, and a clear market direction!

A few of my watchlist trades have hit their prices, but always in the last hour of trading. As a general rule, I don’t enter trades in the last hour. I’m looking at whether I shouldn’t reconsider, though. My rationale for staying out is that the last hour is choppy. But, lately, all day feels pretty choppy…. hmmm….

Stocks Mentioned In This Article
Stock	Links
AMR	| |
AMD	| |