Daytrading June 10 afternoon, page-37

yep obviously have to take a decent size position to get anywhere, for me trading BKL I look at the buy/sell depth first and foremost then the charts, the daily shows a slow drop in share price the last couple of weeks, after looking at the buy sell depth this morning and seeing some pretty hefty orders on the sell side I then watched the charts and waited for the price to drop below yesterdays low around $147 to take it short with the aim of riding it to the first target of $146(low on 27th April and 8th of June) and 2nd target around $144 (which was the support line of the bottom of the hammer on the 12th April). Once I saw it break that $146 support line I increased my parcel and again increased my parcel @ the break of $144. Im in pretty large now relative to my total account, I will probably cover half soon(as I'm not sure it wants to go much lower today) and let the rest ride until at least EOD with a stop of $144.

One of the main reason I was confident taking a large position is because the daily now looks very bearish, but one would think the bottom has to be in soon, time will tell.