A Trade A Day

The XMSR swing trade setup, but I didn’t get the coorperation from the NASDAQ that I wanted. Based on the NASDAQ’s continued upward movement, the expectation was that the XMSR trade would end up being breakeven and it was.

I do have to say though that XMSR provided a nice bear trap and a cup and handle pattern on the 5mn chart. I missed this day trade. Bear and Bull traps are some of my favorite setups and in a future post I’ll talk about how I research and trade them. I think in the case of the XMSR trade, I was so fixated on it as a swing trade that it just didn’t register as a potential bear trap when the stock gapped up on Friday.

Here’s XMSR on Friday. Wish I could of snagged it.

XMSR was a speculative short. I’m not suprised I was stopped because it’s so difficult to trade successfully against the market trend. What I am trying to do is get into some of these short setups at the beginning of a market correction. I’m not saying that the Dow or Nas are ready to tank, but like I’ve said before, the lack of volume in the Dow and the lack of direction in the NAS give me pause.

Now I’m sucked into commenting on the general market again. I hate that.

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