Wednesday, November 10, 2010

Only 3 trades today

Well, over-trading was not an issue today. The ENER trade was a dud, out flat, so that can be ignored, but the MCP trade was right on, taking a bit of timing, and  the TQNT swing trade is an example of an easy entry that can be set with a buy stop. You will have to refer to a daily chart to see the setup, which was a buy on the breakout of the highs, as I only showed the intraday minute chart here. I think my reasoning in the notes on MCP about placing limit, rather than market, orders is maybe some rationalization, I am not sure what the right solution is. ENER is a crap stock, so I was not going to give it any room, and the action the rest of the day showed it was the right decision... not saying that it will not gap up in the morning, but this kind of stock I don't trust.

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