A lot of stocks on my watch list were moving up big, including SPN which I talked about in last nights post. I didn’t take that trade though. I made two other trades, one profitable and one a scratch.
AMZN: +$3.18
BIDU: B/E
Both of these stocks still look pretty good. I might try BIDU again later if it acts stronger. I didn't like the way it was behaving after I entered the trade, so I moved my stop to b/e. I wish I had more time to trade; today was one of those days where the market was giving money away.
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Let me the be the first to welcome you to the trading blog community. Great trade on AMZN yesterday I was also looking at it but missed it b/c it broke out on the opening bar. Were you able to catch RIMM today?
Hey Bubs, thanks for the welcome! It’s nice to know somebody is out there.
I was busy today at work, and cancelled my orders since I wouldn’t be able to watch them. I am kicking myself now, what a nice breakout on RIMM. I have a buy stop order in for MA though; hoping for a nice breakout sometime this week.
Missed the action on MA this morning. It went right at the open with no real setup. Where did you have your buy stop order above the all time high and if you were filled how do you determine your stop? It seems very difficult trading momo without looking at the stock intraday. Also do you trade with HCP or do you find your picks from your own scan? Later
I am usually able to watch the markets closely in the mornings, but haven’t been for the last week or so. You’re right, it’s hard to catch momentum without watching closely. So I have been putting in buy stop orders for stocks that are showing heaving interest, and *likely* to break out with heavy volume.
I had my buy stop on MA just above the descending trend line at 141.52, but was filled at 141.94. I used to get my picks from HCP, but no longer subscribe. I get most of my picks from the Zanger Report, which is for swing traders.
As for stops, I use tight stops. I am still learning the art of selling.
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