Monday, October 27, 2008

Same Ol Same Ol: Another Sucker's Rally


The same theme continues....strong vicious high volume selloffs followed by choppy, weak, limp, low volume drifts higher(these CANNOT be called rallies, not in my book at least) . These kinds of days are almost impossible for me to trade, if anything i tend to lose money trying to figure it out. I'll take my 4K loss and walk away.....

6 comments:

Blue said...

The theme of the month has been long the inverse ETF's 30min into the close and cover at the close. Margin clerk hell as you saw in the very last 10min today. I lost 1k on SKF today and was long 1k SKF @ 167.98 at 3:38pm. I got stopped out break even on that. I'm a little pissed off.

lelio said...

I was up almost a grand today, but trading very small and very tight. I am scared of this market since I have lost a lot of money just by being stupid. I notice we breakdown today and all I can hope is for a rally early tomorrow morning to get some shorts going. good luck

Stewie said...

blue: i noticed you were trying to trade these crappy markets earlier but that selloff late in the session was sweet. I got into EEV at 177 and caught a nice rally in it. let's hope these charts play out nicely tmrw and you get some nice entries.

Stewie said...

lelio: today you had a sweet entry on many of those charts i highlighted in yesterday's video.

lelio said...

I will try to enter tomorrow and use a very tight stop.

Denarii said...

stewie - you writing a book now? is it on Amazon?

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