EGR Coiling release - Trading-Lab

kerahc · #1 06-23-2008, 08:26 PM

Here is an attempt to stimulate a conversation.

EQR came out of a coiling yesterday and today dropped below it's 200ma. Because of the TA on the chart I see it as a clear short trade and have entered as such this morning with a stop above the 200ma. Anyone who doesn't believe in TA want to justify being long this company?

Soverus Khan · #2 06-24-2008, 01:03 AM

gl on the "stimifying", lol! Since I can't even s[ell "funnymental" when it comes to short term trades, I'll splash some TA and have a look-seeT.

Thanks for the heads up.

kerahc · #3 06-24-2008, 03:16 AM

I expected alittle more response then this but it happens. We'll see how it turns out because 40ish was resistance and then support which now has been broken so I expect a 2-3% drop before the 200ma is re-tested before falling more.... Anyone is welcome to comment

Soverus Khan · #4 06-24-2008, 12:04 PM

Jeeez, just noticed all my typing errors in my previous post!!

You talking eQr as opposed to eGr right?

Can't see dropping 10k shares on an illiquid like EGR, LOL!

On EQR, the break of 39 will show next spt around 35.75. Looks like the initial target to me. Next stop around 34 1/4.

What are you looking at for position sizing? Scaling in/out etc.

Just trying to "stimify".

Soverus Khan · #5 06-24-2008, 12:40 PM

EQR Close 23 Jun 08.png

Note the volume effects in conjunction with price.

Overall market conditions warrant caution for longs.

Again, nice find kerahc!!!

kerahc · #6 06-24-2008, 01:05 PM

I will scale out half at the end of today if it drops 2% or more below its 200ma in anticipation of a test of the 200ma at which time I will add the half back then scale in farther after it breaks 38 and gains momentum down. I see it falling to 35.75 to support at which time I'll take half off and trail the rest. It's more complicated but I've found that taking half off after the 2% drop I lock in a small profit and if it breaks above the 200ma I still walk away even if not alittle ahead. When they fail the test of the 200ma I add back in at a very safe R/R point again.

kerahc · #7 06-25-2008, 02:11 AM

Some great price action today and failed off the 200ma which is a good sign. We'll see... The fed action tomorrow has me interested in all my short positions...

kerahc · #8 06-26-2008, 09:35 PM

wow, get short and hang on for the ride today. You don't see many days like this where there is no question where the market is going! I closed 3/4 of my short positions at the end of today. How did everyone else handle today?

Soverus Khan · #9 06-26-2008, 09:49 PM

actually found myself laughing the whole day at those buying. Someone was absorbing those shares that I was shorting!!! No offense to anyone buying, but for intra-day trades, the trend was so loud and clear, I couldn't even see a decent bounce. Just watch and add more to all short positions. Wish I would have held them until the close!!!

kerahc · #10 06-26-2008, 10:45 PM

I can tell you who it was, it was the market makers buying those shares and they kept dropping their bids and then selling the futures to hedge causing the whole market to circle down the crapper.... Everyone says we are going lower tomorrow but I think we will get some relief tomorrow morning giving a chance for the MM to get back to even and then we're going lower into the weekend. I closed my positions because I was too greedy I had to get out...

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#1 06-23-2008, 08:26 PM
kerahc Member Join Date: Jan 2008 Location: Cincinnati Posts: 46	EGR Coiling release Here is an attempt to stimulate a conversation. EQR came out of a coiling yesterday and today dropped below it's 200ma. Because of the TA on the chart I see it as a clear short trade and have entered as such this morning with a stop above the 200ma. Anyone who doesn't believe in TA want to justify being long this company?

#2 06-24-2008, 01:03 AM
Soverus Khan Senior Member Join Date: Dec 2007 Posts: 306	gl on the "stimifying", lol! Since I can't even s[ell "funnymental" when it comes to short term trades, I'll splash some TA and have a look-seeT. Thanks for the heads up.

#3 06-24-2008, 03:16 AM
kerahc Member Join Date: Jan 2008 Location: Cincinnati Posts: 46	I expected alittle more response then this but it happens. We'll see how it turns out because 40ish was resistance and then support which now has been broken so I expect a 2-3% drop before the 200ma is re-tested before falling more.... Anyone is welcome to comment

#4 06-24-2008, 12:04 PM
Soverus Khan Senior Member Join Date: Dec 2007 Posts: 306	Jeeez, just noticed all my typing errors in my previous post!! You talking eQr as opposed to eGr right? Can't see dropping 10k shares on an illiquid like EGR, LOL! On EQR, the break of 39 will show next spt around 35.75. Looks like the initial target to me. Next stop around 34 1/4. What are you looking at for position sizing? Scaling in/out etc. Just trying to "stimify".

#5 06-24-2008, 12:40 PM
Soverus Khan Senior Member Join Date: Dec 2007 Posts: 306	EQR Close 23 Jun 08.png Note the volume effects in conjunction with price. Overall market conditions warrant caution for longs. Again, nice find kerahc!!!

#6 06-24-2008, 01:05 PM
kerahc Member Join Date: Jan 2008 Location: Cincinnati Posts: 46	I will scale out half at the end of today if it drops 2% or more below its 200ma in anticipation of a test of the 200ma at which time I will add the half back then scale in farther after it breaks 38 and gains momentum down. I see it falling to 35.75 to support at which time I'll take half off and trail the rest. It's more complicated but I've found that taking half off after the 2% drop I lock in a small profit and if it breaks above the 200ma I still walk away even if not alittle ahead. When they fail the test of the 200ma I add back in at a very safe R/R point again.

#7 06-25-2008, 02:11 AM
kerahc Member Join Date: Jan 2008 Location: Cincinnati Posts: 46	Some great price action today and failed off the 200ma which is a good sign. We'll see... The fed action tomorrow has me interested in all my short positions...

#8 06-26-2008, 09:35 PM
kerahc Member Join Date: Jan 2008 Location: Cincinnati Posts: 46	wow, get short and hang on for the ride today. You don't see many days like this where there is no question where the market is going! I closed 3/4 of my short positions at the end of today. How did everyone else handle today?

#9 06-26-2008, 09:49 PM
Soverus Khan Senior Member Join Date: Dec 2007 Posts: 306	actually found myself laughing the whole day at those buying. Someone was absorbing those shares that I was shorting!!! No offense to anyone buying, but for intra-day trades, the trend was so loud and clear, I couldn't even see a decent bounce. Just watch and add more to all short positions. Wish I would have held them until the close!!!

#10 06-26-2008, 10:45 PM
kerahc Member Join Date: Jan 2008 Location: Cincinnati Posts: 46	I can tell you who it was, it was the market makers buying those shares and they kept dropping their bids and then selling the futures to hedge causing the whole market to circle down the crapper.... Everyone says we are going lower tomorrow but I think we will get some relief tomorrow morning giving a chance for the MM to get back to even and then we're going lower into the weekend. I closed my positions because I was too greedy I had to get out...