Results from 2008/04/16

posted on July 3rd, 2008

This is a test entry to settle on a format for the updates. Information here is factual but out of date, taken from my e-mail archive.

In this introduction, I'd summarize the market's behavior since my last post and highlight what to look for ahead.

Analysis

Goldman Sachs

Back on April 9th, GS broke intraday support at 175.00. I shorted it. Because of the gaps down on the opens of the 9th and 10th, the top on the 11th was elected as an upper trend limit rather than an exit point. The trend line was then broken on the 15th at 163.00. I covered. Nice 12.00 (6.9%) move in 5 days.

After the 163.00 exit, on the 16th GS gapped up and consolidated. This could've worked for an entry long on the 17th, which as of the 18th had yet to exit thanks to a big gap on that day.

Apple

This snapshot was taken on April 16th. It gapped up at the open, retraced a bit and formed a day tradeable bottom around 9:45 around 150.75. (Forget the indicated scale; that was a typo as the timeframe is actually 5 minutes.) The intraday trend line is broken during lunch time around 152.50. With slippage, this was worth 1.25 (0.8%) which is acceptable for day trading. I'm focussing more on trading multi-day swings nowadays, specifically because of the high slippage I get at my current broker. (I trade CFD's, which are best suited for managing positions of 1 to 30 days.)

Calls

The following are fake to illustrate the format:

GS long 145.00 stoploss 144.30
AAPL short 160.00 stoploss 160.50

Updates

QCOM increase stoploss to 41.75
AMZN stopped out at our 69.50 level. 2.75 (4.1%) profit

Stéphane Lavergne

commented on July 3rd, 2008:

This would be an update after the fact. As a comment to avoid updating the page's main timestamp. Not sure if I'll use this, given that anyone could post a comment and pretend to have my name. (I could then remove the comment, but it would be online for a short period of time.)

Might as well stick to my idea of having an "Updates" section in the following post.

Other Test

commented on July 3rd, 2008:

Yup, that's what I'll do. :-)