Wednesday, April 6, 2011

Trades

First trade was HILL, a kicker with good premarket volume (25% of daily average volume).  I rushed the entry and did not wait for a higher high / retracement.  Entry was on first candle with an initial target of PM high of $3.56, and risk of $0.20.  Stopped out @ $3.0001.  Second entry was on break of initial HOD @ $3.28, with a $0.10 risk and same target.  Stopped out @ $3.18


Second trade was BLTI.  I waited for confirmation of a break of \HOD with an entry @ 5.2955.  Risk was LOD and initial target new 52 week high, but the trade kept running and sold 1/4 @ $5.49 and 1/4 @ $5.824.  Held 1/2 of position overnight. 


Traded HL based on the Silver and Gold momentum.  Entered on break of  HOD, but the trade did not have any follow through.  Risk was LOD with initial target of $10.



Traded AMSC.  This stock dropped more than 40% overnight and after breaking lows, broke out of a triangle.  Waited for a break of daily high of $13.50, but entered late @ $13.71.  Did not give the trade enough room to move (position size to large) and only focused on pre-market high of $15.74.  Stopped @ $13.61 and missed a very nice move to target.
Momentum trade CXZ, coming up to 200 and 20 day SMA.  Held entire position overnight - good close and huge volume.

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