Starting it off.
Happy Memorial Day.
Al
RA
rat89
Rep: 0
Posts: 7,015
fascinating area at the opening lows, and fascinating area now on this bounce.
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Click image for original size
Click image for original size
Click image for original size
RA
rat89
Rep: 0
Posts: 7,015
I lied. Two more last charts of the week. Gld has bee quite bearish, but has stalled in an area that is actually a bull setup, as has nem. We shall see next week I suppose...
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Click image for original size
AL
albert
Rep: 99
Posts: 3,094
Paper trading. Entered calls on IP and LULU. I made a bit in IP, and lost on LULU.
I think I lost on LULU because I was watching the 1 min chart during a pullback, and my option pulled back quite a bit, so I exited the trade. Almost immediately the option price rose back up, but I was not adept enough to reenter the call. I overreacted. DOH.
Yesterday I traded SRPT and TEVA. I barely made a little, a wash trade, on SRPT and lost on TEVA. I like rat's "Then and now" idea so I am trying to show what I did.
Then and now:
In SRPT, I liked the reversal at the 50, 0.382 fibo , and STO OS, and the Kane ABCD at the CLOSE of Wednesday's session.
Thursday, SRPT had a very large bid-ask spread, so I hesitated, and finally entered, making for a wash trade. Made a bit, but not much.
TEVA Wednesday near the CLOSE had an 0.886 fibo at the 200 with STO OS.
Thursday TEVA had a much closer bid-ask than SRPT, but I got greedy and ending up losing on the trade.
IMO the pharmaceutical and/or biotechnology stocks can have some very large bid-ask spreads.
Al
Click image for original size
I think I lost on LULU because I was watching the 1 min chart during a pullback, and my option pulled back quite a bit, so I exited the trade. Almost immediately the option price rose back up, but I was not adept enough to reenter the call. I overreacted. DOH.
Click image for original size
Yesterday I traded SRPT and TEVA. I barely made a little, a wash trade, on SRPT and lost on TEVA. I like rat's "Then and now" idea so I am trying to show what I did.
Then and now:
In SRPT, I liked the reversal at the 50, 0.382 fibo , and STO OS, and the Kane ABCD at the CLOSE of Wednesday's session.
Click image for original size
Thursday, SRPT had a very large bid-ask spread, so I hesitated, and finally entered, making for a wash trade. Made a bit, but not much.
Click image for original size
TEVA Wednesday near the CLOSE had an 0.886 fibo at the 200 with STO OS.
Click image for original size
Thursday TEVA had a much closer bid-ask than SRPT, but I got greedy and ending up losing on the trade.
Click image for original size
IMO the pharmaceutical and/or biotechnology stocks can have some very large bid-ask spreads.
Al
AL
albert
Rep: 99
Posts: 3,094
Ladies and Gentlemen,
I apologize for using the term "wash trade" in the forum here in the Kane area in my paper trading activities. I have been using the term "wash trade" loosely to mean a trade I have made that had made little change in my paper trading profits or loses (not counting commissions) either intentionally, or intentionally. I have found, according to the MyPivots "wash trade" definition, that "wash trades” are illegal. Here I am reprinting the MyPivots "wash trade" definition:
Definition of 'Wash Trade'
A wash trade is not the same as a wash sale. A wash trade is an illegal form of stock manipulation in which an investor sells and buys shares at the same time in order to artificially increase trading volume and thus the stock price.
The United States Security and Exchange Commission defines a wash trade as "a securities transaction which involves no change in the beneficial ownership of the security."
By artificially inflating the volume figures for a security the trader can dupe other traders into believing that interest has picked up in a security which may lead other traders to start buying or selling the security.
I apologize for using the term "wash trade" in the forum here in the Kane area in my paper trading activities. I have been using the term "wash trade" loosely to mean a trade I have made that had made little change in my paper trading profits or loses (not counting commissions) either intentionally, or intentionally. I have found, according to the MyPivots "wash trade" definition, that "wash trades” are illegal. Here I am reprinting the MyPivots "wash trade" definition:
Definition of 'Wash Trade'
A wash trade is not the same as a wash sale. A wash trade is an illegal form of stock manipulation in which an investor sells and buys shares at the same time in order to artificially increase trading volume and thus the stock price.
The United States Security and Exchange Commission defines a wash trade as "a securities transaction which involves no change in the beneficial ownership of the security."
By artificially inflating the volume figures for a security the trader can dupe other traders into believing that interest has picked up in a security which may lead other traders to start buying or selling the security.
Originally posted by albert
Paper trading. Entered calls on IP and LULU. I made a bit in IP, and lost on LULU.
Click image for original size
I think I lost on LULU because I was watching the 1 min chart during a pullback, and my option pulled back quite a bit, so I exited the trade. Almost immediately the option price rose back up, but I was not adept enough to reenter the call. I overreacted. DOH.
Click image for original size
Yesterday I traded SRPT and TEVA. I barely made a little, a wash trade, on SRPT and lost on TEVA. I like rat's "Then and now" idea so I am trying to show what I did.
Then and now:
In SRPT, I liked the reversal at the 50, 0.382 fibo , and STO OS, and the Kane ABCD at the CLOSE of Wednesday's session.
Click image for original size
Thursday, SRPT had a very large bid-ask spread, so I hesitated, and finally entered, making for a wash trade. Made a bit, but not much.
Click image for original size
TEVA Wednesday near the CLOSE had an 0.886 fibo at the 200 with STO OS.
Click image for original size
Thursday TEVA had a much closer bid-ask than SRPT, but I got greedy and ending up losing on the trade.
Click image for original size
IMO the pharmaceutical and/or biotechnology stocks can have some very large bid-ask spreads.
Al
AL
albert
Rep: 99
Posts: 3,094
OOPS. I pressed the wrong button.I guess I had better be more precise in describing what I do.
I decided to start counting commissions in my paper trading, so I will probable stick to profit, loss, breakeven, words more along that line (commissions included).
Good Trading,
Al
I decided to start counting commissions in my paper trading, so I will probable stick to profit, loss, breakeven, words more along that line (commissions included).
Good Trading,
Al