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July 10th, 2007 by eyal | Filed under Day Trading. |
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Quite a sell-off, so I was looking to short. Had a relatilvely late entry into PTRY which run away without a dummy spot for most of the morning. Ended up scratching it at BE. The other short worked well - SHLD which set up nicely, had all the usual tells of high volume, gap, same direction as the tape etc. End P&L is +6.1R.
Wednesday brings the weekly challenge of juggling phonecalls and trading. I call it circus night (or morning in EST).
Hey Eyal,
Can you give me your thoughts on GBX from yesterday (7/10/07). I caught it at the 11:00 30-minute bar going long, but it just didn’t go anywhere for me. Any thoughts on why you might have avoided trading this?
Thanks,
B
Hi Brant, it was low volume and by 11am everything was selling off with quite a strong bearish tone. Check out Maoxian’s dummy lessons archive on his blog, he wouldn’t have approved ;-)
Good luck today.
Yeah, I have a tendency to be strict on volume as well, but it’s always tempting to lower that volume requirement down some to catch some more on the radar screen. I think this was the case with GBX. Thanks!