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  • Monday, August 08, 2005

    Follow Up On CI Trade From Today

    I've gone over that trade and really can't justify staying in it any longer than I did. I caught it on my scans after it had already moved quite a bit, so I waited patiently for a good entry. While waiting I noticed the specialist selling and decided to go short. I had MACD trending down, and I knew there was still some of the gap to be filled.My reason for entering was the specialist selling, and once that reason left that changed the look of the trade for me and I had to exit. I like to see the specialist step down a little more than he did,with more orders behind him than there were.This one just kind of drifted it's way down to fill the gap. Can't do much more than follow your rules and move on.The rest of the afternoon was pretty uneventful as I thought it would be.All in all it was a good day for some scalping here and there.FOMC meets at 2:15 Tuesday.


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