Diary of a swing spread better

Why I shorted BARC yesterday. I, also, shorted SMIN today but not for the same reason.

Split
 

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Splitlink said:
Why I shorted BARC yesterday. I, also, shorted SMIN today but not for the same reason.

Split

Hi Split,

When you use 15 min chart for your decision, shoudn't it be a day trade rather than a position/swing one?! But it looks like you've chosen the right time to short it.

Good trading,

Hung
 
'Sense and sensibility'

I am so glad that my trading life is back to normal after two weeks of hyperactivity. I went thru a two week lucky phase then a two week folly phase when decisions were made hastily. Sometimes they were made when I was at work, sometimes when my wife was asking in the background when I would finish using the computer.

Now I am my normal self again. No more get rich quick ambition but rather get rich slow.

Also, it would be boring turning a hobby into a job. I'll let it stay that way - a hobby.
 
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Sharescope's swing trading package

I am thinking of buying ShareScope's swing trading software package. Used it in the past and quite like it. I also like its discussion board as users are intelligent and helpfull.

But they only offer swing trading charting to intraday and real time packages while I am an EOD trader. Will give them a ring to find out more.
 
'2006 is asking for a fall...'

Tough 6 months on tap for stocks?

Judging by the history books, and the cycles of the presidency, the market could be in for a rough few months after hitting 5-year highs.

By Alexandra Twin, CNNMoney.com senior writer
March 21, 2006: 12:00 PM EST

NEW YORK (CNNMoney.com) - Ah, spring time. That glorious time of year when flowers are a-bloomin', birds are a-chirpin' and stocks are a-slippin'.

And in the case of stocks, they may be a-slippin' for the next two quarters, according to a Standard & Poor's study released Monday.

http://money.cnn.com/2006/03/21/markets/toughsixmonths/index.htm
 
And just to prove it, here's today's chart of the DOW
 

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A chance to scalp the DOW

If 11240ish holds, there may be a chance to scalp 20-30 points.
 

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Long DOW daily cash with just one pound stake. The chance of a dead cat bounce is big enough.
 
The DOW went thru my stop loss level at 11230 while I was away from the screen but my stop loss order was not activated for some reason. I am not happy.

But it looks like 11230ish is the low of the day.
 

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Catching falling knife

It tried to catch a falling knife but it may have found the floor here. In hind sight this is a better time to jump in.
 

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Hi hungvir,

Easy to say now, but if you look back a bit, imho 11230 was a likely target. That's not to say it will hold, mind. Also there was a gap to be filled in the futures at c11300 = c11220 cash.
 

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Got out of my long position. Support broken.
 

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frugi said:
Hi hungvir,

Easy to say now, but if you look back a bit, imho 11230 was a likely target. That's not to say it will hold, mind. Also there was a gap to be filled in the futures at c11300 = c11220 cash.

Thanks, Frugi. Only see your chart now. I think it will jump up a bit from here but I am not willing to risk any more of my capital.

Best,

Hung
 
hungvir said:
Hi Split,

When you use 15 min chart for your decision, shoudn't it be a day trade rather than a position/swing one?! But it looks like you've chosen the right time to short it.

Good trading,

Hung

I'm not sure. A new trend has to start somewhere and I am inclined to enter when I know where I want my stop.

Split
 
Splitlink said:
I'm not sure. A new trend has to start somewhere and I am inclined to enter when I know where I want my stop.

Split

As long as it suits you, Split.

At the moment it looks like every company can be a bid target so I think going long has more pluses.

Good trading,

Hung
 
20 minute till the final whistle

Time is running out for the Dow in its efforts to get up. But I don't think it can go down any further.
 

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That's it. No extra time, no penalty :)

It may set the tone for an up day tomorrow. An end of the short term down trend was followed by a trading range.
 

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I felt a little uneasy ahead of the budget and I don't think that the market is in a bearish mood so have played cautiously.

Bought to close BARC at 673.6 for 8 points profit. Trade opened 20th
Bought to close SMIN at 978.5 for 10 points profit. Trade opened 21st.

Split
 
I quite like the budget. More money for education (I have two kids at school), more tax credit for working families... But the market is at least indifferent. I hope the FTSE will make a swing low in the next few days.

I desperately want to have a long position so that I can short with confidence at intervals.
 
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