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  • Wednesday, October 05, 2005

    Wednesday Trading 10/05/05

    The market is in a nice little selloff for now.(sorry but I consider the short side nice,for the most part :-)) There were a few good opportunities today,some I did well on,some I got jigged out of,and some I just plain didn't get filled on.All in all it was a good trading day.I'm trading a few different stocks now as NEW is pretty much dead after the big selloff it had over the last few weeks.I hope some of you were watching my analysis of it on a swing trading basis and made some money on the short side.The weekly head and shoulders played out very nicely once it broke the neckline around 42.00. I did a few trades today in TOL,A, and PHM.I tried to stick to stocks trading either at their average daily volume or slightly above, which seemed to work out well. I'm still a little off on my exits from the long vacation I had,but feeling more confident and rebuilding my edge.DNA has had some great movement lately so I'll be watching that one closely,quite a few stocks are sitting at or near some key levels including the major indices, so I'll be watching very closely for either volume to pick up to the downside or a reversal of the selloff.I will update later on some individual stocks that may be worth watching.

    Update: A friend has convinced me not to trade DNA,therefore I will not be trading that one.The potential risk is beyond my personal preference, due to the fact that it is more likely to be halted at times of news.I usually don't take advice from others,but when they point out the obvious it is best to listen.It also does not fit in with my trading style.


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