Aarrrgghhhh, my winning streak has been broken. After 14 consecutive winning trades, both my NCM and ORG short trades were stopped out for a loss this morning, followed by a sell down in both to below my stops. The silly thing is that both of these trades were experimental trades that I opened without following my normal trading criteria. What I should have done was closed the trades earlier once I realised that the experiments had not worked. However, by following my normal stop loss exit strategy, the loss was not that significant, but could have been smaller if I had closed the trades sooner.
BHP is still hanging in there, and CTX is looking promising, but ANZ, and WBC are not behaving. I did not expect the XJO to move up today, the market is irrational !!! Heard that one before. Fortunately the three short trades that I opened yesterday were only modest volumes.
The short set ups on the charts are still promising. Several of the stocks on my short watch list had MACD cross overs today, plus the RSI has recently crossed up through 70 and dipped below on most of these stocks as well. That is, the charts are set, but the markets are behaving awkwardly due to Ukraine, etc.