Headed into this week

As you can see from below i have been tinkering with some videos, I think i got the hang of it. Enjoy

one more time

here we go

even batter?

this vid better?

Day trade a slow day

When day trading on a slow day like today I found that the simple technical patterns seem to work better. I will only take a measured move type trade on a slow day like today. You can see that this trade lasted more than half the day and gained +20 points on the first half and +40 on the second half for an average gain of 30 per contract. We had a 30 point risk at the time we took the trade. You can see that the target was taken by measuring from the bottom of our triangle. Then take the same distance from the breakout and you have your target. Again, I don't take these trades often, only on a slow boring trading day.

AA- Alcoa

Alcoa has a similar setup as my previous post for 'X'. You can see my tagets on the Fib extensions. Again, a protective put option for every 100 shares gives you protection from the Fed and limits your risk.

X - United states steel

I Listed a few stocks last week that i felt were due for a strong move, united states steel, ticker 'X' was one of them. Technicals tell me that this stock should make a move higher, im looking for 120 area. I will be looking to get long this stock however they do have an earnings report coming out on tuesday so for every 100 shares I purchase I will be buying a protective put option to cover a sharp sell off. I do think earnings will be the jump start to the upward move im looking for but I do want to limit my downside risk.

Day Trading the pivots

Above you can find a screen shot of a 5 min dow future (YM) chart for todays action. I have noted and numbered the screen to show you how simply playing the pivots can be a very profitable day. Some days the market does not respect the pivots and some days (like today) they work great. Please follow the numbers on the image above and see how I play the pivots. I hope it can give you an idea of how to play them. Please contact me with any questions. If you need the daily pivots for any market see www.mypivots.com