Comments on Chart Swing Trader: State of the Market - 12/2/09

PA - welcome to the blog and feel free to ask any ...

2009-12-02T22:08:08.999-05:00

PA - welcome to the blog and feel free to ask any questions you may have - I'll try to help out if I can. In terms of TSTC, it was forming a nice flag pattern and with the morning strength it was showing along with heavy volume in the first ten or so minutes of trading, I felt it was worth going into a bit before it officially broke out. That, along with China stocks being so hot recently, was all the confirmation I needed. My only worries were that it was a pattern that a lot of traders were talking about, so I thought a reversal or false breakout was possible.

Selling wise, it is always harder. As you can see, today I missed out on at least another dollar on TSTC. I thought with the S&P reversing and so many China stocks getting extended that it was ok to just take the gain instead of letting it run. A lot of it is feel, and for this one, my feel was off a bit. Hope this helps.

Jeremy - taking a profit is never a bad idea, especially when you have been on a bad streak. Nice trade in LWIA - did not see that one in my scans but looks like it had a super move today.

I totally agree with you. I have been on a losing ...

2009-12-02T21:13:27.139-05:00

I totally agree with you. I have been on a losing streak as well. I traded TSTC and LIWA yesterday and as you said, those really were good recipe to my gain confidence back

Hi Mac, Could you shed some light on how you get t...

2009-12-02T20:02:51.002-05:00

Hi Mac,
Could you shed some light on how you get the "confirmation" to enter a stock -- and where to let it go? Thanks much, I have become a recent reader of your blog, and like it .. am possibly gonna start putting in money in some of the stocks you highlight. Thanks for the blog!

PA