Ag-Chem stocks were the stocks to be in today. POT gapped down but moved up very strong, moving right above the R2. There was practically no entry point in the first 45 mins. It formed 3 WRB and then stopped a bit and provided a low risk entry on the break of the 5th bar high. Partialled at 50% FE and the rest around $97. Normally I would not have stayed in that long but ag-chem has taken a lot of hitting recently and theere would be a lot of short covering.
Jamie of Wall St. Warrior often pair trade. I have never done this before but MOS alos provided a nice entry on the 5th bar. So I decided to take it. I however did not hold it for long. Sold completely for a $1 gain.
AMGN was a sympathy play. CELG gapped up around 10-12% today. I was watching for a entry in AMGN right after the open. 2nd, 3rd bar show some retracement and the 4th candle finding support near PDH. Entered long on the break of 4th candle high and exited when it appeared that it will need some time to consolidate. Re-entered again but exited when it formed a red doji.Note: Entries on all the 3 stocks were above R2.
I had a losing trade in SPY. I tried to short SPY on such a strong day. Very foolish of me. I had a BE trade in HK and a small gainer in SPY long. I exited too early. Also had a small loser in MOS. I wanted to place a stop market order for long but by mistake, used a limit order and the order got filled. Price moved down and I exited at market.
I am taking off tomorrow.
2 comments:
Nice work. Bio was also the place to be with m/a activity. I saw that bigh opening bar and should have just played the bio(or commodity) sector. XBI really moved. Amgn a sympathy along with alot of others that opened flat and rallied. Would you long a sympathy play like amgn right at the open if flat? I would have I see this happen so often.
You are right bl. I did see AMGN flat in the premarket and even thought of buying a small position. Should have bought right after the open using 1 min. chart. Will try to do it next time.
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