Too busy to trade
I had too much going on today for pretend trading. AMED was on my watch list (unfortunately it is a Zweig top 5 RS stock) but I didn't put in a pretend trade on it since I figured I wouldn't have time to pretend sell it.
It would have been a good one. If you sold short after the 12:30 candle at about $65 with a stop at $65.50 held it through the close you would have risked 50 cents per share. If you held until the close you would have made $10.57 per share or 21.46R. That's a nice setup.
I didn't find too many other setups today as the market kind of meandered back and forth.
Posts
1 comment:
The drop in AMED is why I believe in stops. One analyst cries fraud and wham! down 20%. I bought AMED and TRLG on Monday and sold them mid-morning today for small gains because I didn't like the market action. That was lucky more than skillful. Wachovia came out and said they disagree with the claim of accounting fraud but the stock didn't recover.
I find www.theflyonthewall.com a good service for real time news when you have access to a Bloomberg terminal.
Post a Comment