Today's tape started with the S&P downgrade. Regardless, the market held valiantly as many leaders broke out and many of my pre-market list was able to rally during the day. This is giving me mixed messages for the near future but as always.... trade the setup, not your opinions. Today I did a decent job managing my risk and getting into the best stocks using tape. I think my Level 2 reading skills have dramatically improved and my plays are showing it. I'm also now able to get into my trades with much more size due to the smaller risk. Also doing a good job ignoring the 'crappy' stocks. I like the list that I traded, and with all minus AMRN I felt like I was able to place myself in a position to make winning trades. Let's not even remind me what happened at the open when I got long 16.00 with a stop at .98. Results? I didn't get out until the .50s. Don't ask me why.... I'm an idiot who doesn't understand this platform. Here are some charts. Feeling a bit woozy right now and need to rest an hour or so before I head out to Apple.
Monday, April 18, 2011
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