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Falling knives caught today

DNDN (again!)

CCJ

ANR

AMZN (I’ll give 10banger credit for driving it down for nice picking. Thanks!)

SINA

All have stops below day low.  So far, no cut yet.

Again, not a recommendation to buy.  Remember, there are always an equal force (if not more powerful) going against your position.

Good Hunting!

and a Happy New Year to ALL!

 

 

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Falling knives caught today

SINA

ANR

CCJ

MCP

AMRN

Edit: New addition:  GMCR

So far, no cut on my hand “yet”.  Stops are at yesterday low or today low.

These are highly volatile stocks; therefore it is not a recommendation.

Come to think of it, nothing I trade is a recommendation since I’m trading thru my personal “tunnel vision” glasses.  Use your own “tunnel vision” glasses please!

Good Hunting!

 

 

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This is a Day Trader Market!

Forget swing trading, current market environment for the last few months is ripe for daytrading.  Profit, once seen, has to be taken.  Any attempt for a longer ride on the “perceived” trend, which is definitely a respectable position to take, have been seriously punished by current market condition.

As a trader, we need to adapt, adapt, and adapt.  Flowing with the market also means reading the multiple sign posts given by the market.  All these multiple small losses you took as part of trade management are your guiding light to the mood of the market.  If you are applying the proper trend-trading strategy in the market but kept getting punished, you know the market mood has changed.

My strategy in monitor marketing mood is by having multiple trading accounts.  One for day-trading, one for swing trade, and one for longer-term trading.  So far, my daytrading account is ahead for the year but my swing trade and long-term trade accounts were not doing well.   However, I was able to reduce my damage to my accounts by decreasing the positions and trading activities to my non-daytrading accounts.

As long as you are disciplined and always stick with a specific strategy for the trading period, day trade or longer-term, your losses are your sign posts you should not ignore.

I took profit on my DNDN this morning.  Also attempt to catch the SINA falling knife but got a minor cut instead thanks to the close stop a few ticks below yesterday close.

Good Hunting!

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Caught a falling knife: DNDN

Caught myself a falling knife without getting cut!  Look at the multiple time frames of DNDN chart.  Good support, good momentum indicator coming up from below.   After aligning my sight to the knife,  I clapped both hands and caught it.

This is not a recommendation to buy DNDN.  DNDN is a highly volatile stock with a strong tendency to overshoot.  It is simply that I like to catch falling knife with a good story.   If there is no follow-thru tomorrow, I may just take my profit and run; but if the run continue, I’m hanging on for the ride…

Good hunting!

Edit: Btw, since I caught the knife near support, my risk level is low.  My protective stop is a few ticks below the previous pivot low.

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