Did you play LNKD down?

After such a strong up on Friday I knew that my next trade was going to be a PUT.

If you looked at the 55 chart and the move on LNKD Feb 27th and compared the move to Friday March 22, 2013 you would have known that the trade today was a down trade for LNKD. My profit....$1090.34.

Ok, Darcy, I'll bite on this one. I don't see a connection between the two dates that you mention other than there was a bog move up at market open on 27 Feb with the rest of the day pretty much flat. The price did not drop afterwards like it did today.

Congratulations on your trade. I guess you probably trades your nominal $3000 limit giving you over a 35% gain in a short time window. Beats mowing lawns for a living I guess.

So how did the price action on Feb 27th inform your expectation of a drop today other than maybe the rest of the market was generally down today?

Thanks for the education.

There was a big move up on Feb 27th because the stock had received an upgrade. That was the only reason for LNKD to pop up. Yesterday LNKD popped up on an upgrade and that too was the only reason for LNKD to pop up. Both times the move was on the 55 chart. Both stayed up on the same day that they had been upgraded. And both fell the next day off the high of the 55 chart move of the previous day. The high on the 27th reached 169.85 and on the 28th the low reached 165.91.

On the 55 chart for LNKD on March 22, LNKD started to fall before the close. A full blown pull back was in place. If the upgrade had been really, really good....you would not have seen LNKD pull back on March 22.

Upgrades and downgrades can help you understand HOW YOUR stock moves around these sort of reports.

My trade made more $$ because the market was down but it still would have made money if the market was up...just not as much.

Look at the NASDAQ 55 chart we had a pull back @13:10...so did LNKD. Look at Gary's 55 chart of LNKD...Look at the MACD @ 13:10 wouldn't you have gotten out on that signal? Sure that is a good signal to exit. I would have waited for it to break through and close on the 20 moving average most of the time. However this time I waited on the 21 and around 11:57 I left my trade. My MACD lines were growing smaller on Gary's 21 and the moving average 21 was running out of steam on the money flow. I watch 4 charts at one time...A 55 (Gary's) ,10 moving average, 21 moving average and Gary's 21. I look for an entry or exit on all 4 of these.



Edited 1 time(s). Last edit at 03/25/2013 07:43PM by Darcy.

I jumped all over NFLX shortly after the open (9:50ish). I typically look for strength after an opening that is above previous days high. I look for overbought conditions, HR FP's on various charts, direction of the broad, and recently added money flow and 3 MA's that Darcy talked about-also my 8 MA. When all are in concert, you have a trade. If most are in concert, there is a trade. It might not run as long as you want, but it is a trade. I am in the trade as I write this post, riding NFLX up. Just wanted to share as I am actually in a trade.

Concerns are- WE are waaaay outside the bolinger bands on the 21, and 13. We are peircing on the 55. We aer gapping and gapping up! Ok, I need to watch this movement more closely because it appears I might have a plummit down based on this huge gap forming on the 21. Again, wanted to share as I am in the trade. Might take my profits and run!

OK- Just bailed out. In and out in less than an hour I picked up $550 profit. This is why I put in the time and work to learn all I can about this business. When I have reached a point to buy 20 contracts, that $550 becomes $5500 in less than an hour. What a job!! Thanks for allowing me to "Toot My Horn". I am pretty pumped and excited. I have not had many trades lately. I have been very busy and did not want to jump out and make mistakes. This one was screaming at me, so I had no choice. As always, I am closing up shop, and starting back to grind on my 9-5. I will not make $550 after working all day on this job. Hmmmmm!!!!

That is SOOOOOO great Rookie!!!! Love, love, love it! Good for YOU!!! It sounds like you are on your way...I am as happy for you as if I had traded it. (I don't drink beer so it is a Coke K?)

Thanks Darcy! I had that GW moment. I was nearly yelling, "IT'S A TRADE, IT'S A TRADE!" I knew if RTT had it trending up, I was going to dive in with a chunk of money. It was confirmed that the trend was up, so I jumped in with a little over $3000-opposed to my comfort level of no more than $2000. Thanks RTT because I made an additonal $100 in that short period-based on that glimpse at the trend.

You know, the crazy thing is, I was actually in the trade, flapping my jaws on this site (SCARED to death), and the stock started to run up higher after a gap (SCARED to death). I was like, ok God, are you telling me to cut this conversation short and finish this trade (SCARED to death)? All of a sudden, the stock went up much higher (SCARED out of my socks)! My response was, ok, He has spoken. It is time to go and live to come back and tell the rest of the story. For whatever reason, I thought it was going to drop like a rock, so as soon as I started to see red painting, I bailed (so RELIEVED). As you can see, it went up much higher, but was not going to test my trading skills longer than I already had.

Thanks for listening.... Just had to share with someone. I felt as if I were suffering from seperation anxiety. Trading has me hooked!

It is hard not to get scared out of a trade. It is also hard not to think that it could drop like a rock. What helped me was to scroll back on the 55 chart and see what stock I trade dropped like a rock in the middle of the day WITHOUT bad news. I just didn't find any that I look at. It takes a while to get past that thought and to ride the wave...but you are well on your way!

You did great and I am so very happy for you.

Whenever I get a great trade I always thank God for giving me courage and wisdom because I tell you for 7+ years I was like the lion in the Wizzard of OZ. In fact I was always sure "sombody pulled my tail"! (My favorite line in that movie!)