Today at the US morning I longed Ford, BAC(with loss) and the shorted BAC with profit. But this trades wasnt so good as my 3 trades on HIG.
HIG - receives approval for participation in TARP today. So, this stock opened in positive zone @16.83. At first wanted to buy HIG after it will fill gap from 16.83 to 14.72. But market was really weak today @Dr. Bret indicators and i searched patterns for short. HIG was trading in minus zone and formed very pretty downside base, which gave possibilty to enter with low risks.
Waited for a moment when market breakout multiday range and then shorted HIG@14.78 . Looking attentive how it is trading @openbook and looking to TraderFeed's indicators , saw the market have enaough power to go to 14$ on HIG. I put buy limit order @14.04. After profit taking i saw this - "steenbab2:20 PM CT- Still questioning downside here; ES 3-day lows not confirmed by NASDAQ or Russell; also not confirmed by XLF, XLB, XLK. Bk l8r." . So had a big grounds to suppose that this multiday range breakout was false. On HIG i saw reverse candle combination. I saw how price reverse near small candle with large volume. As supposed that market's range breakout was false and seeing this reverse pattern @HIG + saw that demand > supply on HIG via openbook so i entered long @14.20. I put limit order to sell @14.78. This was last strong resistance. Accompanied HIG with openbook and TraderFeed's indicators. After profit taking i saw real fight bid vs ask @14.8$ lvl. Also saw that market confused on indicators so decide to be avid and to take all :-) . I caught pullback for other 20 pips and closed on last minutes of market.
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