Tuesday, January 25, 2011

Trust Your Patterns and Fuck ITrade!

First off, FUCK ITrade.  My RELL stop sell was filled today.  Stop sell @ $12.69, day's low @ $12.70.  Well placed stop (a little lucky, yes) was filled @ $12.71.  RELL rallied to close @ $13.04.  ITrade says that sell stops are triggered by the bid. 

I need to trust my charts, and trade according to my plan.  Bought LPX as a swing play yesterday.  The plan was an entry @ $8.21 (above previous high of flag) and a stop @ $8.01 ($0.01 below previous day's close).
Executed my entry, but sold for a $0.05 loss (thought stock was thin).  Today, it B/O.  PATIENCE, STICK TO MY TRADING PLAN. OBEY MY RULES.  Rather simple.

Followed JL into YRCW swing/positional.  Nice flag B/O today.  Initial target is 100 day MA @ $4.50, then the 200 day @ $6.57


Swing position in VG as well.  In hindsight, entry should have been made on break of the flag's high $3.39, rather than break of day's high ($3.31). Nonetheless, I like the look of this flag and have an average price of $3.3033.  Initial target is $3.77, then $4.43.

Traded MU on break of previous day's high $10.11 with good volume.  MU reversed @ 10.20, and I was stopped out @ $9.97.  Still like this flag, but no position presently.

Tomorrow, look for continuation in YRCW(4.26), TUES(5.02), CATY(17.51), ELN(7.10), SMOD(6.75), IO(9.01), PCS(13.51), LWSN(9.65), OCZ(7.88), GRT(9.01), LXP(8.46).

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