Got the gap up I wanted on FMG but didn't sell on open due to having no idea which way it was going.
Ended up getting stopped out at 2120 for another banked $201, got 40% of my losses back so far.
Traded twice more today which I should not have done as it was non-event day, ended up holding a slightly larger parcel at average 2127. Closed lower than I expected but guess have to take into account Friday. There was a flurry of excitement in the last half hour but it petered out in the last gasps. Still couldn't break that short term down trend but is holding above the long term after breaking through yesterday. Don't like the look of that hanging man though in direct contrast to yesterday's hammer.
Need more patience. Twice today I had found what I thought were intra-day support levels. Waited two hours for it to come down to my bid before I gave up and got in at 2125, only for it to finally pull back to 2118 shortly after. Second time was support at 2124 and once again gave up waiting, in at 2127, only to see it come back to 2124 again. No harm done as it went on to make new highs but just frustrating.
I picked the stops not just on indicators but on what I felt seemed right from watching the trading so closely, is this intuition?
Am going to study some short term trading of the midcaps over the weekend, see if I can find a couple that maybe easier to trade than FMG.
Thanks for the input during the week and enjoy your weekend guys.
