daytrading nov 21 pre-market, page-20

MemeFx's Day Trading Diary

Progress:
Spent two weeks investigating possible pullback strategies in the midcaps.
Spent a week paper trading.
Spent a week trading the strategy and made (modest) profit.

Trading these pullbacks is anathema to someone who has been breakout trading for years, but the benefits for a DT are unmistakable.

Thoughts:
Midcaps are a nice place to start the DT exploration space, perhaps not the most efficient use of capital, but capital preservation is high. There is some breakout action in the speccie end of the market, and some of those stocks I would have taken longer term positions in the old days, so there is an avenue for investigation there and a foot in the door.

Not comfortable with news coming out of China. Their biggest customer is going thru massive debt deleveraging and it seems to have had minimal impact on them? Trust us we’re communists?

Still not able to short the market, I definitely feel naked without my shorts! Will have to invest some time in ETO strategies.

Goals for the Week.
Keep trading midcap pullbacks - caustiously.
Keep reading the thread – collateral learning?
Decide and begin on an ETO short strategy (mid term) or non-midcap DT strategy.