Thursday, June 11, 2009

MARKET COMMENTARY (6-11-09)


Back in the range. There is one small, yet significant, change. The neutral flag is also forming a 15 degree ascending flag.



Here are some more setups. Parameters were $10-15 and 500k+ vol:















4 comments:

Carl said...

Earlier in the week you noted PAY in your list of setups. You also mentioned that if you enter a position and it immediately moves against you that you will sell it and move on. My question is this, would you have kept PAY if you bought it at $8.15 and it dropped to $7.90 as of today? It still looks like the setup is there. Could you comment on how I should be interpreting the last few days of moves if I bought in at 8.15? I believe the setup to still be there.

Double K said...

John, your "past educational blog posts" are golden. Will you be doing any more? I'd like to see more of these educational type posts such as for trading psychology, certain patterns you like to trade, how often you look through charts intra-day, etc.

Thanks!

Cliffynator said...

Say, JL, wouldn't that 15-deg ascending triangle be a bearish sign?

John C. Lee said...

Yea, I'll make more when I feel like making them.

The angle does add a bearish element into the equation, but only slightly.