Trade 1
Short HPQ From our watch list.
Last night HPQ reported a major write down .So we added
HPQ to our short list.
Entry 11.53 / Stop 11.60 risk= .07
Target 1 11.40 1/3 +.13
Target 2 11.00 Never hit.Lowered stop to .55
2/3 stopped out -.02
Second entry 11.67 /Stop .75 risk= =.08 2/3 position
Target 1 11.50 1/2 +.10
Target 2 11.00 stopped out -.08
We traded our plan. But the trade went against us,eventhough we
made a little money.
Nothing to write home about,but we were glad to take what we could.
Trade 2
Short CLF CLF we added to our watch list in the morning only.
CLF gaped down at open.And was moving down.WE waited for
it to retrace and looked for a short entry.
Entry 31.57 /stop 31.97 risk=.30
Target 1 31.00 1/2 +.57
Target 2 30.50 1/4 +1.07
Target 3 30.00 Never hit.(we were waiting on the bid)
Target 4 29.00 Never hit.
CLF dropped down to 30.16 and bounced back .
We lowered our stop to .50 and stopped out again for +1.07
risk/Return .30/1.07 =356%
We made great money to compensate for the lackluster performance
of our HPQ trade. But r/R was mediocre. If we hit 30 it our r/R
would've been 500%. Nevertheless it was a great trade considering
lazy trading leading to Thanksgiving.
We will not be expecting much from the market tomorrow.By noon
we will very likely call it a day,because most traders will be
taking planes,trains and automobiles to head home.
No comments:
Post a Comment