I nailed a few plays on Friday:
ALME
This really panned out, tanking very nicely for early shorts if you located/reserved shares.
SIXFQ
Cliff dove early, rewarding shorts bold enough to play it.
Some of the other picks faded, but not in ways that gave easy to play entry cues, which are essential factors. You do not have the benefit of hindsight in live decision making, so outright gradual fades without set and broken technical levels are often hard to judge in practice. Never confuse completed charts with evidence!
AERG had a late bloom, tanking neatly early on, but I mistakenly dropped that from my list of Watchers for the Friday session. I apologize, as the play was quite viable for shorts heading into the session! It pays to be patient in this game, for when it weakened Wednesday but recovered, it was a warning sign that more might follow soon. Usually, such an up chart is sold-off eventually, and one just has to be ready to pounce on cue.
JADA was another example of the virtues of said patience. Just when I had given up on it, tank city!
No trades, I finished most of the tax and records work I have been working on by Friday evening. I was not actively at the computer during most of the day. I hope to change that by Monday...
The blog has a terms of service. Be sure to read it at:
http://traderbigt.blogspot.com/2010/02/please-read-my-terms-of-service-i.html
2 comments:
Big_T, do you actually trade anything? Like with real money? I have gone through your blog back one month and you only talk about alerting and paper-trading.
You're an asset in the chatroom, no doubt, but thats more an indictment on the collective [in]experience of the chartroom members. I'm not some mouth breather who demands that you post winners to "show what you know", I just think its rather easy to toss around proverbs about hindsight and probability at fledging traders when you're never in a real trade. Trade a little and offer some unique perspective, not just the constant know-it-all-isms and the suck-up-isms like "I agree with Tim" and "I agree with Reaper".
Anonymous:
Anyone who follows me enough knows I do not always "agree" with either Tim or Reaper.
For one thing, shorting pure promotionals almost exclusively is not my thing, for example in the chat room I called more than one DCB play long scalp in a "real" news impacted stock, etc. See:
http://traderbigt.blogspot.com/2010/03/big-t-predicts-and-calls-live-play-in.html
More relevantly, my entire trading philosophy is BASED on *scorn* for "know it all's" who attempt to predict future stock prices in irrational ways.
You might want to watch the following videos:
http://traderbigt.blogspot.com/2010/03/inzane-in-membrane.html
http://traderbigt.blogspot.com/2010/04/cautionary-tale-about-discretionary.html
I joined Tim Alerts on a Livestock contest win, which expired at the end of March. I have not yet renewed this subscription.
Your question about my trading habits/disclosures is already addressed here:
http://traderbigt.blogspot.com/2010/02/blog-plans-trading-issues.html
For the record, I have had a number of failed (real money) shorting attempts in the past 2 months on excellent risk/reward plays due to a frustrating lack of borrows at IB at critical moments.
I posted enough on this in the chat room to get moderation warnings over my angry rants... :)
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