Down day, using a pre-trade check list to control random trades and refining this to make a useable process so will take a few days. It did stop me from taking a couple of trades today that I would normally have traded so a good start.
market started strong but faded to lows and no upside. Tomorrow will be an interesting day and have no idea what it will so.
I will be looking for good long and short trades for tomorrow
AKRX
looked to short this but no go. News was all negative and it started out ok but did not fail from the lost of the day. The trade to take was to short the mid day move up.
Lesson, dont go long at the top of the range or go short at the bottom.
Wait for a break on volume and then the re-test
I tried two more shorts near the end of the session but cut them very quickly on volume changes on the tape
JD
Strong in principle but no go on the day.
3 trades in all but no move up
BRCM
again looked strong and was setting up but failed to move off the bottom and was rangebound.
I cut this trade due to no movement
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