Wednesday, October 27, 2010

TRADES ARE UP

There are 22 new trades up tonight, many are "Bounce only" trades, as I stated in the wrap up, I expect a bounce so these trades are only for that bounce. If they continue to perform you can always set a tight trailing stop.

There are a couple of "Short" limit order trades where they are executed on a bounce rather then a breakdown, it will explain it in the notes section.

Another way to play the POMO is to just go with the obvious darlings, NFLX, AMZN, maybe AAPL, PCLN, ect. When playing bounces, don't get greedy! Don't let a profit turn into a loss.

As usual, limit trades, I prefer to execute as soon as they hit the limit, intraday and stops are on the close as close to the end of the trading day as possible unless something just gets totally out of hand.

Please be sure to use risk management. My article on risk management concepts is linked at the top right of the site and this is the key to your long term success-the 2% rule or 1% or whatever you are comfortable with and especially position sizing.

I'll have internet access, at some cost as I see on their website, but I'll be updating at night and if possible during the day-who knows, maybe I find a little cafe in Cozumel with FREE WIFI :)

In any case, I'll be here in the a.m., I'll be leaving at 1 p.m. and be back Monday a.m. So it's about a day and a half.

See you in the a.m.-Don't forget to set your alerts.

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