No Trade Today = Victory

Never thrilled about trading after a short trading day (Fridays markets closed at 1PM)

Nothing setup so I passed on the day after observing for the first few hours.

Now many novice traders will look at this as a defeat. I can remember this feeling when I was learning to trade. I had the mindset that I had to make a trade or I wasn't being productive...which in terms of dollars usually meant a loss on the day.

This is actually a victory in four accounts.

1. You preserved your capital
2. You didn't lose money
3. You control the mindset of Greed, by maintaining your discipline
4. You gained another day of experience by watching how the markets move without paying a tuition.

A reader sent me this, in a way sad but true. Fort Hood was quite disturbing and political correctness paid a big price.

SS0 - one minute chart

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Stock:SSO

Entry Bar: 8
Time Frame: One minute chart
Entry Green Line: 36.19
Stop Red Line: 35.76

Notes: Had some questions on using the one minute chart relating to Fridays trade of SSO. It set up nicely for a break. One minute charts can be a valuable timing tool if used correctly. Several touches at the 5 minute mark before a break.

* 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 Week

I had an unshakable faith. I had it my head that if I had to, I'd crawl over broken glass. I'd live in a tent, it was gonna happen.

And I think when you have that kind of steely determination....people get out of the way.

- Rick Newcombe

Gap Fade - SSO

5 minute chart

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Stock: SSO

Entry Bar: 2
Time Frame: 5 minute
Entry Green Line: 36.19
Stop Red Line: 35.76
Result: .37 to .97
Setup Grade: B+
Notes: Scale as you go. I like looking for these setups on big gaps on news. Was going to take the day off from trading until I saw the big gap so I hung around looking for a setup.

* 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.

Happy Thanksgiving

Great No Trade

Daily Chart

5 Minute Chart

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Stock:NFG

Entry Bar: NO Trade
Time Frame: 5 minute
Entry Green Line: 22.99 short
Stop Red Line: 23.55
Result: NO TRADE
Setup Grade: B+
Notes:Gapping down near a support line and break point, under the 200 sma (purple line on daily chart). Would have entered if it broke its whole number 23. Many times I will wait if my entry point is near a whole number this can be support/resistance. Rather miss out on a small amount then get burned big.

* 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.

1 minute Chart Inside Bar Breakout - BRCD

1 Minute Chart

Daily Chart

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Stock:BRCD

Entry Bar: 2
Time Frame: one minute chart
Entry Green Line: 7.48 SHORT
Stop Red Line: 7.61
Result: .19 to .22
Setup Grade: B
Notes: Usually don't play with stocks in this price range but liked the daily chart. 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.

1 minute Chart Inside Bar Breakout - WLP

One minute Chart

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Stock:WLP

Entry Bar: 3
Time Frame: one minute chart
Entry Green Line: 54.00
Stop Red Line: 53.78
Result: .36 to .50
Setup Grade: B+
Notes: Must be quick and control your exit and stop points. 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 Week

Give me a stock clerk with a goal and I will give you a man who will make history. Give me a man without a goal, and I will give you a stock clerk.

- James Cash Penny (J.C. Penny Founder)

Gap and go Short - NE

One Minute Chart

5 Minute Chart

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Stock:NE

Entry Bar: 2
Time Frame: 5 minute chart
Entry Green Line:40.48
Stop Red Line: 41.44 conservative or 40.74 more risky
Result: up to 1.60
Setup Grade: B
Notes: Here is a great example of letting a winner run as you scale out. The day before took a small loss on a gap and go short. Today, with the timing of the one minute chart, took a nice winner that is still running. One could use the more conservative stop at the high of the day or use the one minute chart for a more risky/high reward trade. Scale as you go and be sure you are out 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.

Gap and go Short - MCHP

5 minute chart

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Stock:MCHP

Entry Bar: 2
Time Frame: 5 minute chart
Entry Green Line: 25.46 short
Stop Red Line: 26.12
Result: small loss to even
Setup Grade: B+
Notes: Small loss to break even depending on how you place and trail your stop. This is a great example of trade management of a setup that looks great after 5 minutes and then just stalls. Not every trade is a winner, keep the losses small and the winners will come.

* 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.

1 minute chart gap and go - CAKE

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Stock:CAKE

Entry Bar: 11
Time Frame: one minute chart
Entry Green Line: 19.72
Stop Red Line: 19.55
Result: break even to .29
Setup Grade: B
Notes: scale as you go and get that stop to even.

* 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.

HNT one minute chart - Inside bar breakout

Daily Chart

1 Minute Chart

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Stock: HNT

Entry Bar: 3
Time Frame: One minute chart
Entry Green Line: 19.84
Stop Red Line: 19.73
Result: .32 to .39
Setup Grade: B
Notes: Nice gap and move on the Daily. This is quick play not for new traders. Took a 5 minute gap and go in the same stock for a small loss.

* 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 Fill and go - CIEN

5 Minute Chart

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Stock:CIEN

Entry Bar:2
Time Frame: 5 minute
Entry Green Line: 13.31
Stop Red Line: 12.95
Result: .24 to .44 or more
Setup Grade: B
Notes: Scale out let some run all 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.

15 minute candlestick breakout - TSL

15 minute chart

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Stock:TSL

Entry Bar: 5
Time Frame: 15 minute chart
Entry Green Line:41.01
Stop Red Line: 40.83
Result: .32 to .74
Setup Grade: B+
Notes: 52 week high on nice volume, scale as you go and get the stop to even. Alot of setups today in this bullish market.

* 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 Week

Become more humble as the market goes your way.

- Bernard Baruch

BAX 1 minute chart - Inside Bar Breakdown

1 minute chart

Daily Chart

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Stock:BAX

Entry Bar:3
Time Frame: 1 minute chart
Entry Green Line: 56.26 SHORT
Stop Red Line: 56.86
Result:
Setup Grade: B+
Notes: Looking for a reason to short if the previous days low was taken out. I posted a Daily Chart of WMT on facebook as a possible trade I may be looking for tomorrow.

* 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.

15 Minute outside range breakdown - M

15 minute chart

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Stock: M

Entry Bar: 6
Time Frame: 15 minute
Entry Green Line: 18.14
Stop Red Line: 18.31
Result: even to .24
Setup Grade: B
Notes: Scale as you go, small gainer but nice setup.

* 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.

One minute - Double Top - ALV

one minute chart

5 minute chart

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Stock:ALV

Entry Bar:13
Time Frame:5 to enter
Entry Green Line: 38.84 SHORT
Stop Red Line: 38.96
Result: .25 to .45
Setup Grade: B+
Notes: Overbought on the daily chart. Looking for a reason to short. Tracking ALV on the one minute charts as a possible double top formed. Wanted a more confirming bar on the one minute so waited for the 5 minute for a better confirmation to enter. 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.

The prize doesn't always go to the most deserving…

Irena Sendler

There recently was a death of a 98 year-old lady named Irena. During WWII, Irena, got permission to work in the Warsaw Ghetto, as a Plumbing/Sewer specialist.

She had an 'ulterior motive' ... She KNEW what the Nazi's plans were for the Jews. Irena smuggled infants out in the bottom of the tool box she carried and she carried in the back of her truck a burlap sack, (for larger kids..) She also had a dog in the back that she trained to bark when the Nazi soldiers let her in and out of the ghetto.

The soldiers of course wanted nothing to do with the dog and the barking covered the kids/infants noises.. During her time of doing this, she managed to smuggle out and save 2500 kids/infants. She was caught, and the Nazi's broke both her legs, arms and beat her severely.

Irena kept a record of the names of all the kids she smuggled out and kept them in a glass jar, buried under a tree in her back yard. After the war, she tried to locate any parents that may have survived it and reunited the family. Most had been gassed. Those kids she helped got placed into foster family homes or adopted.

Last year Irena was up for the Nobel Peace Prize ... She was not selected.

Al Gore won, for a slide show on Global Warming.

In MEMORIAL - 63 YEARS LATER

Quote of the Week

One machine can do the work of fifty ordinary men. No Machine can do the work of one extraordinary man.

- Elbert Hubbard

1 minute Chart - MXB

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Stock:MXB

Entry Bar: 8
Time Frame: One Minute
Entry Green Line: 31.50
Stop Red Line: 31.00
Result: Scale as you go and let some run.
Setup Grade: B+
Notes: A little bothered by the previous day's end of day run up. Stock didn't have a large gap but had a very nice daily chart . Again using the one minute chart to time my breakout entry. Will post the daily chart on facebook.

* 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 One Minute Chart - DOX

1 Minute Chart

Daily Chart

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Stock:Dox

Entry Bar: 7
Time Frame: 1 minute
Entry Green Line: 26.81
Stop Red Line: 27.18
Result: even to .21
Setup Grade: B
Notes: Looking to possibly fade on the Daily chart. One of my setups using a one minute chart opened up for quick trade. Scale as you go and stop to even. Small winner as the stock held firm most 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.

Gap and Go Short - CNW

1 minute chart

10 minute chart

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Stock:CNI

Entry Bar: 2
Time Frame: 10 minute
Entry Green Line:30.99 short
Stop Red Line: 31.29 or 31.78 conservative
Result: 1.66 to 2.74
Setup Grade: A-
Notes: Set up nicely with the one and five minute chart. Daily was a a winner. Will leave a picture of the Daily Chart on facebook. 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.

Gap Fade - NTES

5 minute chart

Daily Chart

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Stock:NTES

Entry Bar: 2
Time Frame: 5
Entry Green Line: 36.60
Stop Red Line: 35.53
Result: 1.04 to 1.34
Setup Grade: B+
Notes: way over sold into support on the daily. 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.