Wednesday, May 6, 2009

Trading report. 6th May

Todays market was driven by news that US Banks need less refinance from the government due to stress test results. Other market's driver was better then expected data on ADP Non-Farm Employment Change. So S&P gained 1.7%, but ofcoz we had some good oportunities to short.
1st trade was with BGFV. This stock was on my stock list with comment "bearish pattern after big gain after earnings realased". Shorted not far from the market open @11.61. 1st target was support at 11$. I saw how BGFV was traded at 11$ and waited for breakout to add 1k shares more. Short one more 1k shares @10.94. After this i moved my stops to 11.10 and 11.15. Breakout was false, so i was stopped, but still had a profit. Knew that this stock had potentional to go more lower and reentered @10.98. Stop @11.20. So after position add, and reenter I closed all trades with BGFV with profit 80$.
2nd trade - DOW - this chemical gigant annonced about stock selling to refinance their debts.. So market had some negative mood on this stock and technical pattern was ok to short. I shorted @15.61 . I didnt wait for the range breakout, but know that with big big % of success it will be breakout to go lower. I expect that dow will fill gap 13.5 - 15.5 more actively, but market was strong, so i closed nearly 15$ dollars support at price - 15.15. So other 460$ for profit.
TXT - this wasnt my pick. I saw it on some internet page. This stock still trading in nice range. I shorted @11.57 nearly high board range. But for a petty my internet connection was broked for nearly 1 hour and i didnt see how TXT was traded at support and then we had a reverse. A petty, but a lose for this trade - 210$
4th trade for today - BAC . Opened with price gain at 11.76 due positive in bank sector and traded in range between this level and 12.00. I bought at breakout of 12.05 and still hold this position with profit 500$.
Today I had a problems with borrowing stocks on ThinkOrSwim, so I lost some good trade opportunities like AHD, CTIC.
Found nice site - http://stocktwits.com/ . Here we can see something like voice of crowd on individual stocks.
Day result - plus 820$

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