Thursday, November 5, 2009


Yesterday's big trades were in TRLG for me. It wasn't like the day before where I absolutely killed it, but nonetheless, I managed to hit TRLG twice and profit twice. The diagram of trades taken is pictured below. The green squares are short entry points and the orange squares are scaled out exit points. I "missed" two trades, but only because the volume wasn't there and also because the 2nd "miss" was right after the FOMC decision. Execution was near perfect on this, so study it.

Moving onto the general market, I am bearish as the title of the post suggests. We formed a gravestone doji on the SPX, shooting star on the DJIA, and a dark cloud cover on the RUT. All three are bearish signals. In addition, note how the indices are "churning" at their respective MA's. If you watch my shows on Stocktwits TV, you would know that I consider this move mostly bearish. The last chart is the IWM, the Russell 2000 iShares ETF. Note the massive sell off volume. The RUT did and will continue to lead the way.

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