Tuesday, February 16, 2010

One Out and One Still On

I got stopped out of my position today in SDS which resulted in a loss on the trade of $2.32. Am I upset? No, I followed my trading plan and got out of the trade with a small loss. I didn't let the trade turn in to a big loser by not following my plan and hoping it would turn around. I am still short AMZN and have a small open trade profit. The fact that the stock moved down today when the broad market rallied speaks to the weakness in this stock. I am looking for a long entry tomorrow in the following ETF's as the weekly trends are still up. They are:

SDS - Buy on a close above $37.62
QID- Buy on a close above $21.08

AMZN - Stop for tomorrow is a close above $123.28




0 comments:

Post a Comment