Subscribe Feed (RSS)Thursday and another selloff day
November 8th, 2007 by eyal | Filed under Day Trading. |
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Strange day, it started out quite choppy and it was tough to tell what the tone was. I also had a huge list of candidates that were moving. I went with the top 2 that set up first – long FSLR and short HANS. And then like yesterday after a couple of hours everything crumbled and took a nose dive. FSLR couldn’t stand the selling pressure and closed at BE and HANS surprisingly held up and I eventually exited it manually before it hit the stop. End result is -0.5R. It’s a pity that despite the volatility over the last 2-3 days I couldn’t get any traction on good trades. Let’s hope the rest of the month turns out better than this past week.
On days when certain sectors are big movers, it might pay to look at an etf for that sector for a play in addition to individ stocks. Cause so many times your experience is what happens with individ stocks alone. The “hey! such and such market or sector is getting crushed, how come my stuff ain’t movin” syndrome.
I like to add an etf in on big market days. I know, it’s tough to know in advance when it’s going to be a big market day, even for a sector, but that’s what they pay us the big money for. -)
bernanke jr – yeah you’re right. I usually get too tied up in the heat of the battle with the scanners and watchlists to pay enough attention to sectors, I keep them in view but haven’t gotten around to looking at them for trades. Thanks for the reminder.