Away till monday

Off to the Phillies WORLD SERIES parade!!

Regular posting, on Monday, still fighting yesterdays hangover!

Phillies Pre-Game Speech

After waiting 25 years for a championship - and then the BS the other night. This speech should do it. It will be the most intense 3 innings you will see in baseball.

Free Fall - SHW

5 Minute Chart

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Stock: SHW 5 minute chart
Entry Bar: 23
Entry Green Line: 48.72
Stop Red Line: 48.32
Result: .48 to 6.00 if you held all day
Setup Grade: B
Notes: Beaten down, nice volume increase capitulation, scale as you go, Out of SSO in my IRA as well, nice push at the end of the day.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Going to the Phillies Game, World Series

Dont ask what I paid for the ticket - I have been waiting 25 years to see a championship in Philadelphia - Will post tommorrow (if I recover) - There was a nice ES gap fade today.

Buying for the IRA - SSO this AM

Buying some SSO for the IRA at 25.50 - Longer term play for months down the line, goal is 30

May buy some more Monday if we crash again. This is by no means a day trade!!!

Trade at your own risk. I only hold over night with my IRA, my cash account is my life blood.

Double Dynamite - UNM Short

Daily Chart


15 Minute Chart

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Stock: UNM 15 minute chart

Entry Bar: 10
Entry Green Line: 15.23 SHort
Stop Red Line: 15.36
Result: break even to .66 - scale as you go @ 2R and 4R gain - stop to even
Setup Grade: B+
Notes: Scale as you go

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Quote of the Day

No Time to post today

"The real glory is being knocked to your knees and then coming back. Thats real glory. That's the essence of it"

- Vince Lombardi

Squeeze - SKF

5 minute chart

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Stock: SKF Ultra Short Financials

Entry Bar: 17
Entry Green Line: 135
Stop Red Line: 133.62
Result: sell 1/2 1R, stop to even trail rest with 8ema, scale out 1/4 ar 2R option -
Notes: Again this is a setup I have been experimenting for some time. I will not add this setup to my business plan unless it proves consistent and profitable for some time. http://howidaytrade.blogspot.com/2008/10/squeeze-uwm.html
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This is a quick hitter, get that pop on a nice consolidation break when the Bollinger Bands come out of the Keltner channels, look to see if there is some sort of consolidation on the 5 minute chart. This one was really banging on the 135 number and broke when the squeeze occured.

Quote of the Day

Translated from a post of Mensa Brazil:

'Investing in the Stock Market is worst than divorce: lost half my fortune and my wife is still at home.'

Will try and post a chart this weekend - out of my SSO - may again look to re-add in next week if something sets up. Still feel this is a bottoming process looking at my last posts 10 year monthly chart, but who really knows.

Buying for the IRA - SSO

Buying some SSO for the IRA again, in at 28 for a longer term play. Looking for a target of 33 (20% or 10% jump in the S&P sometime in the future). Will buy more if we drop lower. This is a 10 year monthly chart of the S&P futures. I am making this buy because I have the stomach for a drop, have a longer time frame and dont need the cash anytime soon. Much like I did last week

This is not a day trade by no means.

Gap Down 123 Pullback - JAH

15 Minute Chart

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Stock: JAH 15 minute chart

Entry Bar: 11
Entry Green Line: 15.66
Stop Red Line: 15.79
Result: .43 to 1.19 -- about a 7r plus gain
Setup Grade: B
Notes: a little extended on the down side but today was an avalanche which put the odds in your favor.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Gap Fade Short - QQQQ

5 minute chart

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Stock: QQQQ 5 minute chart

Entry Bar: 2
Entry Green Line: 35.69
Stop Red Line: 36.01
Result: .69 to 1.80
Setup Grade: B+
Notes: Way overbought, moved stop to whole # to get more of a risk/reward. Scale out hold some all day or move stop down with support/resistance levels.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Sellling into this Bear

Selling into this gap up this morning - had bought SSO at 35, 32 and 27 - Its currently at 38.46 - The Dow is up over 25% from the low printed two days ago - I have never seen anything like this.

Squeeze - UWM

5 minute chart

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Stock: UWM - pro shares Ultra

Entry Bar: Green always
Entry Green Line: 27.98
Stop Red Line: 27.73

Result: sell 1/2 1R, stop to even trail rest with 8ema, scale out 1/4 ar 2R option -
Notes: This is a setup I have been experimenting for some time. I take very few trades and that is why I am succesful. I will not add this setup to my business plan unless it proves consistent and profitable for some time. With any new setup you risk little and work your way as you succeed. I have been experimenting with this setup for about 4 months.

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I only use this setup with the ProShares Ultra - http://www.proshares.com/funds?products=98646&fundType - these double the daily performance of the the index they track.

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More or less I wait for the Bollinger Bands to come out of the Keltner channels, look to see if there is some sort of consolidation on the 5 minute chart. I have more criteria but this is just a preview (must be above their 8 & 21 to go long). Will share in the coming weeks as they setup.

30 Minute breakdown - ANF

5 minute chart- shorter time frame

5 minute chart longer time frame

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Stock: ANF

Entry Bar: 10
Entry Green Line: 29.99 short
Stop Red Line: 30.40
Result: Made 1R - moved stop to even - scratch trade
Setup Grade: B-
Notes: Just missed a nice winner as I was stopped out even - would have been a 6 plus winner, a wider stop then usual but, liked the tail above the 5ema

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Need a Bigger Clock

Damn - picture is worth a 1000 words

Choppy crazy market - remember day traders you dont have to trade everyday - no trades means no money lost. Did add some SSO at 35.19 to my IRA for the LONG TERM like I mentioned in the previous day post.

WOW - Time to Buy Long Term?

This is the SSO - Proshares Ultra S&P 500 - tracks the S&P 500 in double time (Example - If the S&P 500 is up 1% then SSO would be up 2%)

In a yeara a drop from 101 to 36 - the media is screaming its the end of the world, everyone is in a panic, congress is a mess (as usual), blood in the streets, time magizine's front cover is the next depression - I am buying some SSO for my IRA for a longer term outlook - We go may go lower but that is why its a long term play. Will sell half at 40 (10% gain) and move stop to even. May be a week, 6 monthes or 2 years or never.

As for Day trading, mostly sitting on the sidelines after the first 30 minutes. As I state in my business plan I only take a few quality trade setups a day. In these crazy markets I am even more picky - the goal is always to protect your capital. If your not trading you cant lose money. Be Picky!!

Gap n Go shorts are working quite well. Never push it, and these markets are all over the place. Never hurts to sit on the sidelines and watch the fun.

10 Minute Gap and Go Short - AME

5 Minute Chart

Daily Chart

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Stock: AME 10 minute chart
Entry Bar: 2
Entry Green Line: 35.58 SHORT
Stop Red Line: 36.30
Result: 1.63 to 2.30
Setup Grade: B+
Notes: Market is crazy!!

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

Gap and Go Short - BNI

5 Minute Chart

Daily Chart

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Stock: BNI 5 minute chart
Entry Bar: 2
Entry Green Line: 86.10 short
Stop Red Line: 88.97
Result: 1.50 to 3.00 hold some all day
Setup Grade: B
Notes: Less shares with large stop

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.