Todays Market Events

[cpatte7372]

Hello,

Can I get the opinions of traders feeling towards todays market activities.

Was it a bad day for bulls or simply a bad day for me? I didn't lose any money, because I stuck to my trading plan, however it was really difficult trying to make money. I was just wondering if others had similar experiences today.

Even if you don't swing trade did any of you find it difficult finding a single stock to put your money into?

Cheers

Carlton

[JayF]

Carlton,

In just commenting on the ES Futures, the downward turn from 1144 range was quite tradeable, however after about 7:30am Pacific Time, the market was quite sideways and difficult to trade. The downturn continued once the bears got back from lunch, and right at the close the bears settled up their day with a reverse Head & Shoulders.

Please keep in mind this is just general comments and not trades I actually pulled off. It's simply all hind-sight.

[MR]

A little more hindsight to add to Jay's chart....

[DuaneG]

Hi Carlton,

Here is my take on todays action on QQQ (3 minute)



BTW......Not losing $$ is the first and most critical step to being succesful in the market.

[cpatte7372]

Market Feedback

Hi,

Will someone please let me know if they're actually able to put on a bullish trade so far today?

I have not been able to put on a profitable trade for a few days now. I would just like to know if anyone else is going through a similar experience.

Usually my system finds excellent stocks to trade but every stock pick appears to be tanking.


Cheers

Carlton.

P.S.
I suppose I just need a little more confidence...

[MR]

Here is something I am playing with today. Looking at PFE 15 minute chart. Paper trading on a pullback between 50% (36.62) to 62% (36.50) as a possible buy this afternoon., stoping loss below 38.50.... 1st Target 36.93. It isn't a dynamic mover today, but for point of illustration might be something to track.

[MR]

Follow-up on earlier PFE 15 min paper-trade idea post... day-trade buy closing in... using 36.50 (62% retrace) and normal Ellipse to trigger... stop loss below this area, below Ellipse.

[MR]

I think the trade idea was stopped out... oh well, trying too hard today to help. Looks like you are correct, tough markets today. Anyway, PFE 15 min 'gap' covered now? Standing aside for now.

[cpatte7372]

Marc,

I was stopped out too. It was a really tough market.

Better luck tomorrow mate.

Let me know how you get on.

Cheers

Carlton

[cpatte7372]

Purchasing Against the Sector

Hello,

Just a general question. Would you go long on a stock even if its sector is taking a nose-dive?

Cheers


Carlton

[MR]

Not generally.