No Trades Friday

I didn't make any trades Friday. NYMX printed a red candle above the upper Bollinger band. It's a short watch now especially considering it doesn't hold big runs well.

Clear Trading Range on Crude Oil

I talked about how I thought crude was near support in the previous video. Well the print it made today on support is bullish here. It's a hammer candle right off support of the trading range. It's good for a long setup on a high of day. Ticker USO looks good as a long or I might do call options. The 15.00 October calls look good. Of course if it doesn't go green on the day and just tanks there is no long setup.

Covered Everything

I covered the other half of NOG in the 4.50s. That was my planned area to cover everything. It is right at trading range support here. I made 6.5% overall on NOG. I covered all of ATW for a 5.8% gain. I made 2.6% on STRP.

SMED Ascending Triangle

This is text book ascending triangle. Perfect bull ascending triangle followed by strong breakout on high volume. I think this one SMED has some more runs coming. It's a good buy if it holds above yesterdays close. It's a medical waste disposal company only 146 million market cap. Good earnings growth.

Short ATW

I shorted ATW on the breakdown of this bear flag it is in. I filled around 16.19. I sold half of NOG to lock in gains. still short remaining half of STRP.

NOG Drop!

NOG was a great trade for me short from 5.05. STRP continues lower.

Kick The Can Again

I'm disappointed they didn't raise rates. I'm not surprised though. I should remember that you can't expect the FED to ever do the right thing. Or even know what is really going on. I remember Bernanke would hold press conferences and be adamant about the bottom in housing and the strength of the economy. That was in early 2008! I sold a little over half of STRP and all of TRCH. I got a bad exit on TRCH at 2.22 but still made +.05 a share gain and ok partial sell of STRP at 35.47. I almost bought some calls on GDX. Seems to be the only thing strong along with TLT. Forgot in the video the USD looks very bearish here.

Recap Of Trades

I stopped out of UA at 100 a share. STRP tanked nicely and I'm still short from 37.91 up about 9% now. I bought TRCH at 2.17 and it ran all the way to 2.44!It closed up about 8% so I'm up on that one to. Looking to lock in profit on both today. STRP and TRCH were two of my favorite setups. A spike run above the upper Bollinger band and a bull triangle.

TBT Still Good Idea

Long Watch TRCH

Uploading my latest video is taking longer than anticipated. I like TBT as a long-term position trade on a FED rate hike. TRCH is a good triangle that just broke out here. Good volume too. Long biased!

STRP Position Trades, Commentary

In this trading video I talk about my STRP short. I also analyze natural gas. I talk about my day trading ideas for the FED announcement and the next direction of the overall market.

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