Tuesday, April 17, 2007

April 17 Trade summary

Volatility tailed off in the am, so I quit at the 2 hour mark and came back during lunch for a scalp trade, after missing a key sell signal that occured around 9:30am

P/L= $308

There was a key buy setup at 7:40am when NYSE A/D made a higher low and NYSE TICK hit a low for the day. I should have added size to my long when I saw this setup. This pattern has been occuring freuqently. Notice on my SPY chart how block trades weren't faded between 6:55-7:20am. When this happens you need to go with the trend and look for the first pullback which occured around 7:40am. Weakness today was seen in the oil sector, while the bonds have been trending up all day along with JPY.


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