I made a mistake yesterday..It was opening my mouth..When you put in entry prices and start speaking like an expert you set yourself up for a takeout of your stops..NEM was oversold, I had it marked on my post yesterday in a trading range from 17.50-20.38...I was looking for a reversal today,(and I got it!!) a pop of 1/2 to 3/4 point from my entry(19 1/8, 19 1/16)...Well, I got my pop and would have had my profits, but they took it down first to make sure they got my shares..Lesson learned....Some traders I know won't even reveal their open positions...They maintain they have to keep their edge...
I am holding overnight
1.ESST
2.DMIC(got this one below 14, don't think they will get me this time)
3.PEGA
Below is one of the gap theories by Bernstein...Just remember the market makers know these gap strategies as well, and sometimes play games to take out stops right below gap prices...
GAP STRATEGY
1. When a stock gaps down, set a buy order 2 ticks above yesterday's low…..
2. When a stock gaps up, set a short order 2 ticks below yesterday's high….
Delayed Gap Strategy
1. When a stock gaps down, if one hour after trading, the present price is above the opening, GO LONG, BUY….
2. When a stock gaps up, if one hour after trading, the present price is below the opening, GO SHORT, SELL…..
1. When a stock gaps down, if one hour after trading, the present price is lower than the opening, set a buy stop order 2 ticks above today's high………
2. When a stock gaps up, if one hour after trading, the present price is higher than the opening, set a short order 2 ticks below today's low……
|
