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January 19th, 2006 by eyal | Filed under Day Trading. |
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I had an “interesting” morning a la Chinese curse. My ISP’s exchange went down and I was disconnected from the market at the most interesting time of the morning. I called the tech support and the advise was: “go to sleep and by the time you wake up it should be back”, yeah thanks, WTF do you think I woke up at 3am for? Just to see if I got some more spam mail? Anyways, it was back at around 10am and by then I felt I was flying half blind. In any case I chose LRCX and CTXS to focus on and settled on LRCX because:
1. It had slightly higher trade rate at the time
2. CTXS had an inverted looking hammer for 2nd candle
3. The % risk was lower
4. It gapped up slightly less than CTXS
In hindsight CTXS flew high early morning but then crashed fast by mid-day and would have stopped me out at reduced R or BE. LRCX closed at +2R, not fantastic from risk/reward point of view but not too bad.
