Wednesday, March 11, 2009

LONG FAS

bought 3.92
sold 3.89

reason for buying:
  • upward breakout from descending triangle
  • buy on pullback
  • sso looked like it was going through 16.50, that would have been a nice short squeeze
reason for selling:
  • sso failed to break past 16.50 (can't display spy chart today, something's wrong with platform)
  • fas unable to bounce back with strong volume and make higher high
  • stopped out below 3.90..keeping losses tight
lesson learned:
  • wait for confirmation from market before entering trades
Update
  • THIS IS BULLSHIT! takes me out..went to lower than 3.85..and then bounces up and takes out $4??? bullshit!

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