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  • Thursday, July 21, 2005

    NEW Short

    NEW was taken short off the 1 minute chart above. I had been watching it flop around for about an hour, before entering just below a minor support area. Large orders came into the nyse book stacked on top of each other. MACD was declining on all my charts (1 minute,5 minute,13 minute,and just turning down on my 60 minute), and the S&P futures were also in a minor downtrend off there highs. Short entry was 51.52, exited(covered) half at 51.25 and remaining shares at 51.03. All my signals lined up on this one, and once again patience pays off. A little luck was involved on that one too, I really had no idea it would burst down the way it did. Then again a trader makes his own luck by strategizing, and acting on the trades.:-)


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