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Robert Weinstein
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  • Trading Results 8/4/11 0 comments
    Aug 5, 2011 9:25 AM

    A very interesting and trying day to say the least.
    After shorting gold futures two days earlier I woke up to find that gold had gapped higher and Iwas a little more underwater than I wanted to be. I was ready to take the stop but felt the first half hour will tell me if it is going to be a gap and go or a gap and crap. I used a DeMark TDCombo 13 as the entry signal, along with the bars on the chart going straight up which doesn't last forever.
    At least the crap happened and I enjoyed watching gold move further down during the day. I am still short gold.

    Another thing that fell all day was the overall market. Down, down down it went. I was very surprised to see the S&P 500 fall as much as it did. I stayed away from it, but the night before I bought DNDN and I covered it in premarket trading for a decent gain before I was even out of bed. I like those kind of trades....LOL I reentered and traded DNDN a few times before exiting for the last time. I will be watching for another entry as it appears to be oversold.

    Lastly, I entered into a long with PCS by selling naked put options with a strike of $9 in various accounts. I like PCS here for a bounce in the next few days. I am watching ALK for a dead cat bounce, as it made a TDsetup 9 yesterday after a crushing drop in the last week.

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