Keep Calm and Don't Move Your Stops.....

A little risk management saves a lot of fan cleaning!

The Purpose of Life is Joy!!

Wednesday, July 12, 2017

Sheesh X 2

I sat down at the computer just as both CL and NQ broke and ran up. No pull backs to get in on....had to let them both go. My heart was sick.

On CL, got long just after inventory. -1%. The subsequent collapse offered no reasonable place with acceptable risk to short even thought I knew it was going straight down. Again, had to let it go. Done with CL.

On NQ, kept seeing weakness at the premarket highs after the initial run up. The opening range high held and held. So I eventually sold it very near the ORH expecting a nice collapse similar to CL as we are near the top of the trend channel.Nope. Full stop out. -.50%. Shorted one more time, same result. -5%. full 1% loss today on NQ. Instead, it just started grinding up, essentially a full trend day with lots of sideways movement in between algo bursts higher. Wasn't around for the middle part of that but its just grinding away at the top of the daily trend channel.

All in all, a complete bust today.

No pics today....

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