Wednesday, March 4, 2009

Scalps today.

I scalped RF today. It was a pure technical read. Saw a lasting 10/60 cross and continous upticking DJI , and a following BAC. I jumped in RF at 3.48, and was out at 3.68, though it hit a max at 3.76 but failed soon after to close at 3.51

+$220

Perhaps the most satisfying part of this trade was knowing that 
I still had the edge to recognize this pattern and make an effective entry and exit after a horrible last Friday. I also realized how important it is to avoid making back to back trades just becuase you think you may not have reached your profit potential. I left about $72 on the table from my exit, but I learned this valuable lesson.

Really guys, this breakout was beautiful, just easy money. Check out the chart below


EDIT**
I love this article, let the education bubble burst--another artificially inflated sector of the economy that should come crashing down.