Trades for   5th November ,2012

Trade 1 

Short CHK                From our watch list.

                                  Another victim of bad earnings.We expected the continuation today.
                                 I had computer problems in the morning  could not enter the trade
                                 at open.We  waited for a retracement and entered the trade on 1 min
                                 chart.

                                 Entry   18.17
                                 Stop     18.23
                               
                                 Target 1    18.00            1/2 +.17
                                  Then we lowered stop to .17 to b/e.
                                 Target 2    17.00              Never hit. Covered 1/2 +.10

Trade  2

Short CRUS               Yes we did not forget it from Friday.

                                  Entry  32.15
                                  Stop    32.25

                                  Target   1    32.00             1/3 +.15
                                  Target   2    31.75             1/3 +.40
                                  Target   3    31.30             Never hit. Covered more  +.65
                                  Target   4    31.00             Never hit.
                                  Lowered stop to .75         all out              +.35

                                  It really  didn't  pull back beyond our exit. 

Trades for 3rd November,2012

Trade 1                                               

Short VRTX           From our watch list.
                            
                               VRTX had a classic gap down at open today.

                               Entry    45.15
                               Stop      45.30
                               
                               Next minute we were stopped out  for -.15.

                               But the pattern still  indicated  massive selling.

                               Second entry          45.00
                                             Stop           45.30
                    
                                             Target 1     44.50             1/2 +.75!
                                             Target 2     44.00             1/4 +1.00
                                              Lowered stop to 44.50   more  +2.00
                                             We covered last bit                   +1.53 
                                                          
                                 Net trade risk/ Return   .30/2.00  = over   600%      
    

                                 Very fast trade. Had to be on full alert ready to pull the trigger.

                                 See how we recovered from a losing trade and made money on
                                 it!. Again this is where trader psychology comes into play.
                               
                                 Learn it.
                        
                                 Lesson:  The second trade was completely independent of the
                                                first.

Trade 2

             
 





















Short CRUS              CRUS-hed!  took a huge tumble after reporting worse than expected
                                  earnings.The kind of news that can give us a short trade.

                                  There was too much going on with CRUS we simply waited out for
                                 our entry while finishing up with  VRTX. Both are very volatile stocks.

                                 Entry    33.55
                                 Stop      33.60

                                 CRUS just collapsed under our entry.
                               
                                 Target 1       33.25    1/2  +.30
                                 Target 2       33.00    1/4  +.55
                                 Target 3       31.50    We  were looking for a climactic sell off.
                                                                   Didn't happen.
                                                                  1/4 +.19
                                 Also it was EOD. We expected a big short covering.But  it dropped
                                 to a new low 32.06!

                                 Were  we upset. NO! The river will be there tomorrow just the same.
                                 We had our fill for the day.