9:44- just missed my chance to flip positions. realized 3.94 that it hit resitance at 3.90 and it was time to go long. Currently 3.95 lets see if it faces upward resistance. The big open up this morning looks like it could be an attempt to avoid the inevitable tank which happened last night.
Had I more trades(though I do have 3 as of now, not sure if I can use them all on C) I might have flipped.
9:46- looks like its trying to bring 60dayMA down flatlining at 3.95. Resistance at 3.96 break.
9:47- I realize I am doing way too many realtime updates, there are many more minutes in the day left.
9:50- this resistance is pathetic, and the rise is too. cues me to think this is going to be a big down day.
9:56- starting to think more and more that 3.95 is going to be your best short entry for the day. Wow thats a bold statement, I'd feel owned to be wrong.
10:12- Just back from shower, and the breakdown occured causing definite confirmation of my beliefs. Wow, its amazing how well today is working out. I guess I feel insync with C becuase I have watched it so much. Currently unrealized P/L open is 160. I am very happy that my entry is few cents above my posted entry. P/L now 180.
10:15- I have class at 11. My position is doing very well. Dow is sliding just like I expected(post about this idea later). The general market slid should cause the trop in confidence that I
m looking for. Right now, I don't see a bottom. Im not getting stopped out of this very nice trade. I'm going to walk away and check via Ipod in class.
10:17-look for breakout type buy in soon. This selloff has gone over too many percentage points already. ITs time for the day traders exit. I'm a long short today. Let's see C bleed. Red is green for me.
10:22- chatting w/ rep. considering closing and reshorting to protect gains and make more off the anti-selloff, will post convo. P/L hit top at 280 at price 3.70
10:19 lakhanin: Hi
10:19 lakhanin: I have 3 day trades left.
10:19 Rodrigo: hello
10:20 lakhanin: If i close my short from yesterday on C, will I be able to use my funds to re short C later?
10:20 lakhanin: Its a question about having the necessary funds I guess
10:21 Rodrigo: yes, but you would need to contact us to place the short later. Additionally, you won't be able to close the "new short "position today
10:21 lakhanin: ok, is that becuase it is on C which I have already traded?
10:22 lakhanin: its not becuae of PDT right b/c i have 3 trades
10:23 Rodrigo: It is only because you can not day trade with proceeds from closing a position that was held overnight
10:24 lakhanin: yea, that was my worry. Thanks.
10:24 Rodrigo: you are welcome\
10:27- the air smells like a mix of feet and Harvest cheddar sunchips(courtesy of my roomate... breakfast of champions) As we come near the end of the first hour of trading, expect sideways action as volume settles. NIce resistance break of 3.70. Currently @ 3.68. Very nice sign for my short! Will need to watch for barack giving an address, that could easily send things the other way. This is the news I will be watching for.
10:31- a moment worth celebrating. I am finally breaking even on my account for the first time since December. My account was down over 37% and I managed to work my way out. Keep in mind this is all still unrealized gains. P/L is 349.
11:12-made it to class slightly late. C at 3.73. Its hard to focus on price action etc. while learning discrete math. Not sure how the short stands, but i'm going to walk away till class ends.
11-23- wow, C is following DJI. exact scaled charts
11:29-dow will ned to break 8k for lower lows in C
11:30, bid ask just were equal. something big is about to happen, i think its a buyin.
11:55- out of class, starting to get nervous about profit taking. wish I had cnbc to tell me the general market news and what obama is saying. When you trade what everyone talks about it there is so much more pressure to stay ahead of the curve. Only now realizing this.
11:59- just realized my math prof has facebook. Roflcopterz. Seeing some naive cycling/channeling in C at the moment. Resistance at 3.58 is strong. I've witnessed two attempts to break and dow looks like it could make back some losses having turned away from 8020's to 8040's now.
12:12- I've started to think that we might have seen C's lowest lows already. It just hit 3.70
12:13- nevermind, i think its going to be and EOD fade, here we could see a nice run even to the 3.80's showing reversal. It will be fake breakout. Need to add some longs to take profits from before the EOD death happens. DOW will not end above 8k. mark it as my opinion.
12:20-put it this way, it takes a ton of other shorts for the selloff that happened before 10:30 this morning to occur. I know they haven't covered yet. WE are all waiting tocover.
12:47- not happy with this run, far from the 60 day MA and a new recent high at 3.77
12:58- if i was over pdt, i feel like I would have sold way before. But i'm not over and I have no ewya of telling.
2:33- Through my class on Financial markets and there was a solid sell off after the brief breakout. I must admit, the breakout was killer. Much better a real one then that yesterday. I'm sure several were spooked.I shouuld identify an target exit now since its bounced of lows for today more than once. I want DOW to end under 8K, but i'm not going to but my money there any longer. Look for me to cover soon.
2:56-i've stopped watching a lot. dow looks like its breaking off highs. IT won't rise, question is when its going to decide to let everyone know 8K this week is no good
3:07-final hour of trading. At this point i don't care if my prediction is true or false, i'm closing my trade before the weekend. I'm going to cover REAL soon, both on my real account and youngmoney account.
3:21-8004!!!! break BROKE!!! as i wrote this
7998
3:21- this is what i wanted all day!!! bleeding to follow
3:25-can it hold under 8k?
3:30- holding 7982 at the moment. C consequently broke LODS. 3.57.
3:38 nlods at 3.56 I think i should cover before the squezze leaves me w/o profits in the .55 range
3:41-AHHHHH i covered at 3.59, i made the wait not worth all it could have been. but hey, my net PL on C is now 10% of my net worth. Much remains to be said about perfect exits as tough as these. I really did not want to get squeezed into the 3.60's with this trade. I know many more are anxious to cover their trades. I saw the DOW squeeze and pulled the trigger on my C trade. Very nice. Green on my account and very green on this trade! Celebrate.
3:55- i've watched the markets enough. I don't care if DJI actually ends under 8k. It is at this exact moment and I have closed my trade. Today was a success.
