Friday, November 14, 2008

Friday GE scalps

I managed to get 4 GE /NYAD divergence scalps off today. . .more than usual but when the signals pop up you've got to take em. In each case GE diverged positively off the NYAD slope actual and projection (orange and blue) and in each case the trades were of relatively short duration.
Trade 1 - 11:28, the parabolics fire a SELL after a little 12 minute runup.
I enter at $16.18 and ride the slope down to the parabolics COVER at 11:44 at $16.02.
Time in trade = 16 minutes, net gain = .16
Trade 2 - 12:48, the parabolics fire a SELL after a 24 minute runup.
I enter at 16.22 but 4 minutes later the parabolics are fire COVER, and I'm out at 16.15
Time in trade = 4 minutes, net gain = .07 (I'm a bit shaken by that last trade, as the reversal was unexpected, but I'm sticking with the plan.)
Trade 3 - 13:00, after only another 7 minutes the parabolics are again on a SELL and I enter ( a little late) at 16.23. This proves to be a good trade that carries for the next 15 minutes before the parabolics fire a COVER at 13:16 and I'm out at 16.08.
Time in trade = 15 minutes, net gain .15
Trade 4 - by 13:30 GE has retraced back up to the 12:56 high and forms a litle squat bar for the next 12 minutes, so we know a break in coming. I'm still bearish on the markets at this point and the NYAD is supporting my negative bias so with the parabolics on a SELL at 13:42 I sell at 16.28. We the get a big bar down, but don't break through the PP, which is actually bullish, so when the parabolics fire a COVER at 13:52, I'm happy to close the position at 16.18 and get flat.
Time in trade = 10 minutes, net gain .10
None of the trades were big winners, but I did manage to collect .16 + .07 + .15 + .10 = .48 with only 45 minutes of exposure.
I'm done for the day.

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