Last 2 days I did not trade as I could not find any decent trade setup. Sometimes the best trades are not to trade at all. SOH (Sitting on Hands) are better than losing a trade and giving the money back to the market.
It is important not to trade if you cannot find any trades that speak to you. The market was way too choppy on both days without any decent earnings at play.
Happy Trading...
Sunday, June 6, 2010
Friday, June 4, 2010
Thursday, May 27, 2010
Gap Play - MON
Today I played MON as an earnings play. Reasons were:
1. RS to market - Market gapped up strong, this one was down
2. Good base on prior days
3. Down from a whole number
I shorted this stock at open and bought it back as shown in the picture.
Though it was not the best gapper today, it played well for a good 3.5R.
Better gapper today was NTAP and PAY both were earnings stock.
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