Shared by
cwainscott_BOWS
Resistance at the 50 SMA on the daily chart suggested that this would short at around the 273.5 area. Every time the stock would get near that resistance it would fall slightly. I took profits and was done for the day. I was up significantly for the day and did not want to give back the profits that I made.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-02-23 11:32:00 | DWTI | sell | $273.750 | short |
| 2016-02-23 11:48:00 | DWTI | buy | $265.240 | 0 |
| 2016-02-23 12:05:00 | DWTI | sell | $273.660 | short |
| 2016-02-23 12:43:00 | DWTI | buy | $269.260 | 0 |
Comments
cwainscott_BOWS
I flip through my watchlist in the mornings and look at the premarket data from thestockmarketwatch.com to see premarket movers. I also went back to ToS charting software because I like to watch the premarket movement. It actually helps me to determine which stocks I will be playing for the day. There are some stocks that I am constantly looking at that I just know how they move and if there is a good setup on the daily and intraday I will play them. I also follow the BOWS team on twitter to generate ideas, I have found that I really can't handle more than 3 stocks at a time. If I just focus my efforts in making good entries and managing my risk then I know the profit will be there. You really only need one stock to be profitable if you are making good entries and managing risk.
GaTech_Trader
Great ideas and tips for morning routine. I find I'm at my best also when watching 4 stocks or less too.
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I continue to be amazed by your consistency and patience. I do notice that you are concentrating on just one or two names at a time. What is your criteria for deciding which name you will pick for a given day?
Thanks and Congrats!!!