Tuesday, March 3, 2009

SHORT MS

shorted 17.45
covered 17.33

reason for shorting:
- bounce on low volume to prior resistance
- doji hitting 5ma on 2min

reason for covering:
- some higher buying volume popped up on spy around 70.50 level
- got a bit scared and just punched out
- already missed the majority of move..was this the best entry??

update:
- gotta make myself sit tight on more profits...lots of profits left on table.
- still having problem of exiting trades too soon...but how can i sit tight knowing this market could bounce any minute and that I've already missed the majority of move down...

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