Journal of my thoughts and trades on the path towards achieving a consistent monthly income from day trading!
Thursday, July 15, 2010
I am once again short the market...
I shorted 120 shares of ATHR and 700 shares of GT this morning @ $30.00 and $11.45 respectively. Although the GT position size may seem quite large, my stop loss is very tight and rests at $11.60 while my stop loss for ATHR is a little looser at $31.00. So although I am 200% short overall I am risking less than 4% of my account on these two trades but stand to profit 12% - 15% if these stocks revisit their recent lows. With the markets as overbought as they are now and signs of short term weakness beginning to show I like these bets very much.
Subscribe to:
Post Comments (Atom)
MY DAY TRADING RULES
I will ONLY put stocks BREAKING OUT OF DAILY CONSOLIDATIONS TO NEW HIGHS OR NEW LOWS ON HIGH RELATIVE VOLUME from my DAY TRADING SCAN into m...
-
I moved up my stop loss order on APKT from $26.00 to $27.00. Although APKT could still work, I do not like the persistent weakness I am seei...
-
I am of the belief that the markets will move higher over the course of the next 4-6 weeks. However, beyond that I am not very confident in ...
-
These three stocks are currently breaking down from stage three topping patterns. All three recently announced earnings disappointments a...
No comments:
Post a Comment