Scalp Trade Of The Day - AECOM Technology Corporation (Public, NYSE:ACM)

Bought $32.72
Sold $32.99

1) Stock found bottom at the ORC.
2) The trigger bar finished strong above ORH and with increased volume.
3) Trigger bar low was tested and I stayed with the trade.
4) Price stalled at $33 and volume was less than early morning. Because of the uncertainty, I closed my position.
5) Target was $33.22 (halfway between ORH to 38.2% extension), it came very close, but never reached.
6) Another entry that I missed was the break of 3rd bar / 30 min.
7) It wasn't much white space, but it worked out fine.
8) I ran out of patience with GB too early and this was the better trade.

Gap Fade Of The Day - JA Solar Holdings Co., Ltd. (ADR) (Public, NASDAQ:JASO)

Shorted $47.69
Covered partial $46.65
Covered remainder $46.91

Notes
1) The 12pm bar frightened me off a bit. However, I stayed with my plan and waited til the next bar to get the confirmation needed before enter.
2) Target was $46.23 (ORL), but took partial to ensure a profitable day.
3) Stock declined as it maybe profit taking after last week great run.
4) There were some good setups today, but they moved too fast for me to enter.

Short Trade Of The Day - CarMax, Inc (Public, NYSE:KMX)

Shorted $21.96
Covered partial $21.76
Covered remainder $21.74

Notes
1) Entry was below ORL, but it was a doji like candle with high volume which may mean resistance of ORL.
2) Stock stalled briefly and it almost reached my stop. But staying with the plan paid off.
3) Hard to choose between NICE and KMX to short. Volume greater than previous day got my attention.
4) Target was morning low $21.26 and it was reached at the end of the day, but without me.
5) Many took profit after yesterday great run. Therefore, stocks that open higher ended up down.

Long Trade Of The Day - Best Buy Co., Inc. (Public, NYSE:BBY)

Bought $46.48
Sold $46.57

Notes
1) Entry was near the ORL, but it was an IB and NRM. Also, It was a green hammer type bar before closed.
2) The long upper shadows was the warning to exit.
3) Should exit earlier when profit was still decent. Nevertheless, the exit was correct, but late.
4) Stock did reached my two targets of $47 (Daily Pivot Point) and $47.29 (ORH), but it was because of the FOMC policy statement. Therefore, many stocks jumped at around 2:15PM.

Short Trade Of The Day - Lehman Brothers Holdings Inc. (Public, NYSE:LEH)

Entry $58.50
Stopped 2/3 position $58.50
Stopped 1/3 position $59.43

Notes
1) Not sure of the entry on 15 min chart, so I checked 10 min to confirmed.
2) Should take partial at $58.
3) Loss was small, but still need improvement.

Tweaking With My Protective Stop

I've been tweaking my protective stop this week. But I think it was too much.

I traded 2 stocks this week with the enhancement and failed.

Monday - IDCC
Today - FSLR

Notes
1) Must at least exit partial if trade doesn't look or feel right.
2) Look carefully and find the best candlestick formation before entry.
3) Take smaller position with reasonable protective stop.
4) Be happy with a small loss.

Pivot Point - Amylin Pharmaceuticals, Inc. (Public, NASDAQ:AMLN)

AMLN opened below the daily & intraday pivot point $48. The 2nd - 5th bars rallied around the pivot point. I watched the price dropped to $47.56 at the 6th bar. Still, I waited for the next bar and was confident that it won't break the $48 mark.

Entry was $47.99 at the 7th bar.

Exit was $47.96 at the last bar.

Notes
1) Traded with the market's downtread.
2) Buyers and Sellers were equally matched.
3) Didn't wait for the candle to closed, but pivot point was resistance for a long time when entered.
4) If it is a must, at least I should have waited longer for a weak bar like 12:30pm Shooting star (NR) before enter.
5) $48 was a strong support and resistance.
6) Felt price may trade around $48 and didn't tighten stops or took partial profit.
7) I stuck to my plan today.
8) Should pick a stock with higher volume than previous day to increase the chance of success.
9) Must focus equally on all time frames.

Double Top Reversal - Radian Group Inc. (Public, NYSE:RDN)

MTG & RDN terminated their merger agreement. Perhaps this was why stock gapped down at the open.

RDN received support at $15.80 (daily chart) and rapidly passed the intraday pivot point $19.98 before it pulled back. It based and broke the pivot point around noon. To my surprise, price reached $21.15 (spinning top) and pulled back, then made another similar high at $21.16 (shooting star).

I shorted at the finished of the Double Top and Double Evening Star Formation. Order was filled at $20.71.

Covered 4/5 position $20.21 (3 min chart / 13:30 bar).
Covered 1/5 position $20.35 (3 min chart / 13:45 bar).



Notes
1) Price was moving too fast, so I switched to 5 min chart for entry and 3 min chart for exit
2) Target was the pivot point $19.98, however, I took partial profit while ahead.
3) Covered 1/5 position because of the two doji prior as price may reverse before target.
3) Exited all shares before Fed's Beige Book at 2PM.
4) Waited patiently until stock was extended before entry.
5) Controlled my greed and took profit early.
6) Chosen to short and followed the market's downtrend.
7) Need to risk more and find a better exit for the remaining shares to maximize profit.