Today we see the US index break up from a mini 2 day resting. I find an interesting chart online (see above) indicating we are at the trendline resistance. I have the same feeling that we are going to see pullback tomorrow. Some of the strong trending stocks I followed, such as RAX, MAKO, gave up their early morning gain quickly in the afternoon. This action is definitely different from yesterday and days before. If the environment is good, they should not pull back so much. This indicates to me that people are cautious and starting to take profit. Let us see what will happen tomorrow.
Today I do not do well in the trading. I make the same kind of mistakes as before.
1.VRX: It was up to 54.50 in the early morning, but closed at 53.52 today. I made this winning trade to be a losing trade again. I admit that I have too much expectation for VRX, as I want to hold it long enough to see it breaks out 55 zone to start trending. I am too greedy. If I regard VRX as a short term trading, I believe I would definitely sell it today around 55.30 in the 2nd push up. But obviously I did not do it and did not raise my stop to 53.83 to break even. My bad!!! I do not know how to do with VRX tomorrow if we see the weakness in the market. Hopefully VRX do not drop much to hold 53 zone. I feel very likely cannot hold. It is my choice if I want to hold it more time to wait new buyers coming. Not feel good.
2. MAKO: Good entry, bad exit! I could earn more in the MAKO trade. I did not see the volume spike at 11:00Am after 20 minute when the price was like 33.90. I should sell it immediately. But instead I set a stop at 33.72 and quickly stopped out. Anyway, this trade is better than VRX trade, as I made money through it. But it teaches me to sell when seeing the volume spike without price moving immediately.
FSLR, a huge 503400 volume down bar around 1:45pm (see below chart). What does this mean? I want to see how FSLR act in the next few days? I thought it was going to be bullish few days ago.
No comments:
Post a Comment