Wednesday, April 13, 2011

Good and bad news

The good news first: we held support and some indices even managed to put in a tiny gain. The bad news: we're not safe yet, not by a long shot. However, support-buys seemed to work better today than they did yesterday.

Swingtrades
I tried a few swingtrades with tiny positions. NVLS didn't work (rejected by the 5EMA), but I'm still in PTIE (entry 9.35) and SABA (in 9.34). I went long IWM when it started to turn up from the low (and it's 50MA). Price rallied untill the next pivot-point and than fell back a little. I scaled out most of my position, but will swing a small size in case we get a higher open tomorrow. I also sold some April 83-calls to have more cushion, limiting my upside as well as the downside. Expiration is this Friday, so if we stay under 83, I can keep the premium and stay in the trade unless it falls under my entry (SL now near BE).

Daytrades
Only one daytrade, EXK. When I spotted the stock in my scans, it was already up from the ideal entry-point but I entered anyway. I had a good feeling about it, price bounced nicely from the 5EMA on the 15m-chart and from the intraday-high from yesterday afternoon. A nice rally followed and I took partial profits near the ORH. I hoped the stock would go to R2 (@11.89), but 11.64 was the top. Sadly, I didn't take profits there and gave the stock too much room in the hope it would turn back up. Exit of the main part was little above BE.

No comments:

Post a Comment