Well yesterday was a bit slow. We trended up and then trended down towards the Close. On the Open I traded FCX and HK and recognized light order flow. I was aware not to get caught in the Low Volume P. For SMB that means the low volume programs where the short term longs lose as the stock is dropped out and we hit the bids for a small loss. And then the short term shorts lose as the the stock lifts and we cover for a small loss on the offer. I should probably rename this to the Everyone is Gonna Lose P.
But after trading for 11 years I have been taught by my boss, the Market, to be alert. You never know when the next great trade is around the corner. It is more important to be professional than profitable during a trading day. Being professional means being alert. And as light as trading was into the Close EL gave us an opportunity. EL was a terrific trading stock into the Close. The opportunity was there. And I was in it.
51.25 is an important level to trade off of for EL this AM. Above and I will be long, below and I will be short. I found this level by being alert into a slow close. Be alert.
3 Comments on “Alert”
recently found ur blog- good stuff.
suggestion- u need to change default on your videos to ‘not’ all play on opening of page- i hear a mish-mosh of commentary – quite annoying
recently found ur blog- good stuff.
suggestion- u need to change default on your videos to ‘not’ all play on opening of page- i hear a mish-mosh of commentary – quite annoying
P, thank you for your suggestion.we recently tried to set the autostart feature of the player to off but it doesn’t seem to work well for all browsers. We are looking into using a different player so that this is not an issue going forward. Thanks for reading our blog.