LITB Trade on Aug 23, 2013 12:56 from shindigBOWS: Tradervue User Stock Trades.

I think the short setup was right, just entered when it was extended instead of waiting for a bounce and roll to short.

Here's some food for thought. If you look at a stock and see that there were already 5 plays in it, chances are the next one will fail. In my experience most stocks have 1, 2, or MAX 3 good plays in them unless they have extreme momentum behind them (think something like RSOL, up 150% in a day). In that case all technicals go out the window and it's just euphoria driving the stock. In other stocks, like this one, especially if they are in consolidation after a big move (see previous 3 days on this one), only 1 or 2 good plays are left and they're usually in the morning. Sure, you can make money on them at other times, but the reward is usually much weaker on those last plays as you're just picking up the scraps. The only people trading these things at those times are the ones who missed all the good plays, so the stock is going to be filled with people who act irrationally or don't know what they're doing at all :)

Yeah man! That's why this awesome site exists! I think of it by looking to see where the "easy" money is and if you can easily identify two places where there was "easy money" already then your chances of another significant gain are greatly diminished and it's best to either quickly scalp it and run or leave it alone!