Happy Memorial Day!!

Quote of the Week

" The most valuable executive is one who is training somebody to be a better man than he is." - Robert Ingersoll

One minute Chart - Gap/Go - RIG

1 minute chart

5 minute chart

Daily Chart

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Stock:RIG

Entry Bar: 13
Time Frame: 1 minute
Entry Green Line: 61.91
Stop Red Line: low of day or more aggressive 61.67
Result: .40 to 1.80
Setup Grade: B+
Notes: Playing the snap back on the daily chart. Use the one minute chart to time your entry, scale out and ride it.

* 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 - Passed on this trade

Daily Chart

5 minute chart

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Stock:CAT

Entry Bar: 2 (would have passed see notes)
Time Frame: 5 minute
Entry Green Line: 60.35
Stop Red Line: 59.24
Result: passed
Setup Grade: B-
Notes: Strong market and and hammer off the daily's 200sma made this an intriguing setup. But with the previous days run up and crazy market as of late.... I would have passed. This is a great example of being picky on your setups especially in these fast moving markets. If you took the trade you could have pulled out a winner by scaling out and sticking to a strict trade management plan.

* 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 - LLY

1 minute chart

5 minute chart

Daily Chart

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Stock:LLY

Entry Bar: 6
Time Frame: one minute chart
Entry Green Line: 32.34 SHORT
Stop Red Line: 32.45 (one minute chart)
Result: .20 to .32
Setup Grade:A-
Notes: Again scale as you go...take what the market gives you...Daily chart was a mess, still on these gap and go shorts I am very weary of the market bouncing with the over sold market. Crazy markets like this its best to take on less risk (trade less shares) very unpredictable.

* 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 15 minute chart - KR

5 minute chart

15 minute chart

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Stock:KR

Entry Bar: 2
Time Frame: 15 minute chart
Entry Green Line: 21.96 SHORT
Stop Red Line: 22.21 or more aggressive 22.05
Result: even to .14
Setup Grade: B
Notes: If you held your original stop you would have a nice gainer...either way scale as you and stop to entry. Missed money is better then lost money!! Can use the lower time frame to time your entry, see the 5 minute chart.

* 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

"What counts more than luck is determination and perseverance. If the talent is there, it will come through, Don't be too impatient." - Fred Astaire

Gap Fill: ES and SSO 2 seperate plays

SSO 5 minute play

Emini ES in at the open.

Daily Chart...look how we are gaping under the low of the spike down two weeks ago..just due for some sort of bounce.

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Stock:Emini ES or SSO

Entry Bar: at the open or after 5 minute bar
Time Frame: 5 minute bars
Entry Green Line: ES: 1053 ..... SSO: 34.28
Stop Red Line: ES: 10 point stop......SSO: 33.89
Result: ES: +14 & +17......SSO: 1.10 to 1.50
Setup Grade: A-
Notes: Take a look at the daily chart...when I saw the market gaping down again under the low of the spike 2 weeks ago I couldn't wait to jump. Many times I use the gap guides at www.masterthegap.com.....but with this setup I was looking to get in with a wide stop and less contracts. I was looking for a bounce....just didn't know when or how much.

Can also wait for the sso to close and go long at the high of the 5 minute bar..stop low.

* 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.

30 Minute outside range breakdown - ORCL

5 minute chart

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Stock:ORCL

Entry Bar:8
Time Frame: 5 minute chart
Entry Green Line: 22.64 SHORT
Stop Red Line: 22.89
Result: .08 to .24
Setup Grade: B
Notes: Weak weak market....small gainer off red break down bar, must be willing to scale out and take what the market gives you, shoot for singles ...favoring short is the play now

* 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.

30 Minute outside range breakdown - COV

5 minute chart

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Stock: COV

Entry Bar: 7
Time Frame: 5 minute
Entry Green Line:43.93 SHORT
Stop Red Line: 44.20
Result: .58 to .89
Setup Grade: A-
Notes: Nice bar break of the 30 minute low...scale out as you go on this weak 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.

New Stock Market Terminology

VALUE INVESTING -- The art of buying low and selling lower.

P/E RATIO -- The percentage of investors wetting their pants as the market keeps crashing.

BROKER -- What my broker has made me.

STANDARD & POOR -- Your life in a nutshell.

STOCK ANALYST -- Idiot who just downgraded your stock.

STOCK SPLIT -- When your ex-wife and her lawyer split your assets equally between themselves.

FINANCIAL PLANNER -- A guy whose phone has been disconnected.

MARKET CORRECTION -- The day after you buy stocks.

CASH FLOW -- The movement your money makes as it disappears down the toilet.

YAHOO -- What you yell after selling it to some poor sucker for $240 per share.

WINDOWS -- What you jump out of when you're the sucker who bought Yahoo @ $240 per share.

INSTITUTIONAL INVESTOR -- Past year investor who's now locked up in a nuthouse.

Quote of the Week

" The way a young man spends his evenings is a part of that thin area between success and failure." - Robert Young

Gap and Go short - ADI

5 minute chart

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Stock:ADI

Entry Bar:2
Time Frame: 5 minute chart
Entry Green Line: 27.99
Stop Red Line: 28.42
Result: .41 plus at time of posting.
Setup Grade: B
Notes:Scale, hold some all day, stop to entry......nice prior day consolidation and breakdown.

* 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 Chart - ACE

1 minute chart

5 minute chart

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Stock:ACE

Entry Bar: 7
Time Frame: 1 minute chart
Entry Green Line:52.51
Stop Red Line: 51.47 conservative....52.17 more aggressive
Result: .25 to .55
Setup Grade: B+
Notes:Scale as you go, stopped out at entry and then it took off...it happens, always stick to your rules.

* 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 Long - SSO

5 minute

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Stock:SSO

Entry Bar: 2
Time Frame: 5 minute
Entry Green Line: 40.49
Stop Red Line: 40.27
Result: .30 to 1.40
Setup Grade:
Notes: Nice bar in still bullish market...can scale and trail the 20...nice break from pre market action.

* 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 breakout - VCI

15 minute chart

5 minute chart

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Stock:VCI

Entry Bar:
Time Frame: 15 minute chart
Entry Green Line: 33.01
Stop Red Line: 32.84
Result: .85 to 1.30..at least 6R
Setup Grade:
Notes: Here is a trade from a reader. Sets up on both the 5 and 15 minute chart. Patience pays off waiting on this one. All about discipline. Sell some shares as it moves your way. Get that stop to even. What a crazy market we are seeing.

* 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.

Fading the Gap Fill - Emini ES

1 Minute Chart

5 Minute Chart

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Stock: Emini Es

Entry Bar:
Time Frame: 1 minute chart
Entry Green Line: 1163 - Short
Stop Red Line: 1164.50
Result: Up to 4.5 points
Setup Grade: A-
Notes: Scale out at +3....stop to even and let it run...remaining stopped out at entry. I liked the fast gap fill into the 200sma on the 5 minute chart...and the resistance of the previous days close. Found an opening on the 1 minute chart. I look for these on fast gap fills...especially weak markets.

* 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 - TCK 30 Minute Chart

Daiy Chart

30 Minute Chart

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Stock:TCK

Entry Bar: 2
Time Frame: 30 minute chart
Entry Green Line: 35.21
Stop Red Line: 33.60 Conservative...34.24 on 15 minute chart
Result:
Setup Grade: A-
Notes: Nice bounce off the Daily 200 moving average....Can use the lower time frames to find an alternative stop..which means more risk but you can buy more shares. Larger stop means you buy less shares.

* 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.

ADBE- one minute breakdown

1 minute chart

5 Minute chart

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Stock:ADBE

Entry Bar: 7
Time Frame: 1 minute
Entry Green Line: 32.76 SHORT
Stop Red Line: 33.17
Result: .25 to .53
Setup Grade:
Notes: Nice quick hitter and set up on the 1 minute chart. Scale as you go...you held this more then 10 minutes and all profits gone. Market was gaping down big at the open helping the momentum.

Little lite on the posting's lately, training for some long distance runs and sometimes your side hobbies fall by the way side.

* 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 can not give you a formula for success but I can give you a formula for failure: try to please everybody.' - Herbert Swope