Friday, June 01, 2007

Limits,

Dear Readers, today's limits.
Attantion O - OLD, N - NEW.
N QQQQ 47.42 - 47.85
N GLD 65.93 - 66.27
O USO 47.85 - 48.79
N ECA 61.63 - 62.23
ECA nice sell at 3rd (62.55) resistance for today with exhaustion bar to boot, I got 100 points yesterday from similar point.
Risk is 62.95 new high.
Well So far, so bad in ECA, But willing to give all 75 pts to 63.30 5th resistance, now at 4th 62.91

Doubled down on ECA at 6304 12:28 ET Now gaining. Ready to collect on exhaustion. DONE, let me explain. This was not a well attanded trade. I was mistaken to watch 5 min bar chart, instead of 15 min. With this stock being so volatile, one can not do that. Resistance levels were alos looked at 5 min charts, which screwed things up and, I must have waited for the stock to reach the old high around 63.25 etc. So, there all things I have done wrong with this trade and ended up makeing few bucks.

N SPX 1527.83 - 1543.56
N TSX 14025.19 - 14175.47
Update about Canadian, Dollar. Is 1.0650 not stopping the CAD and is 1.02 in order here? Looks like too far to go there. We shell see. I am not yet convinced, but one thing is clear, there is no clear point to sell at for now

3 comments:

Danno said...

LOL Encana (tsx) resistance around #of the beast 66.6......

talk about the Omen.

LOL

boris said...

Dear Danno, see remark about ECA in the post
GOod Trading

Danno said...

Sounds good to me. Great.