Monday, August 1, 2011

My watches for tomorrow...

The big gap up this morning messed up all of the long set ups on my watch list and so I avoided then until in the afternoon when I took $DTLK long ahead of the $11.00 break out but it later failed and stopped me out for a small loss. Although the markets were in a down trend all morning and I reserved shares in $TAOM and it triggered and broke down; I did not short it. So that was a miss.

In the morning, I made two trades in $SUNH with out any clear set up that fit my trading plan and I paid the price. I lost on the two longs I made although it was not much. I traded it once again in the afternoon and made a smallish profit which offset the earlier losses. The other stock I traded today was $MILL which popped quickly and faded back to my entry price. I missed the opportunity to sell into the pop and was stopped out flattish.

So overall I managed to finish the day gross positive but ended up netting a $35ish loss after commissions. All in all, I'd say it was'nt a bad day considering that the markets ended up closing down big and all of my trades were longs! I'm looking forward to tomorrow as I know I will do a much better job than I did today! On that note, here are my watches for tomorrow:

LONG IDEAS










SHORT IDEAS







OTHER


I'm not sure which direction this stock is going to break but it looks like its setting up for a big move. Keep an eye on it.




Good luck and good trading!

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