AKS - AK Steel Holding - Cup & Handle; AAPL - Apple - Trendline break
Here's AAPL which had been steadily trending up over the last few days. Today's entry provided a good short if the market weakness continued and stocks broke down. From what I've noticed recently, when AAPL falls, it usually falls in a hurry.
The market didn't end up breaking down, and AAPL ended up bouncing at the confluence of the top of yesterday's base & the 78.6% fib retracement from the recent low to high.
Here's a look at the AKS daily chart. It's been trading up in a channel over the last few weeks and bounced off of the lower trendline in the channel on Friday & Tuesday.
The AKS trade had a good result, but it was still poorly managed.
That was it for today's trades.
I wasn't filled on the Base & Break in CMP @ 74.00 (HCPG Watchlist). It basically ran right by my stop limit order. I pulled the order, as I didn't want to enter on what could have been a reversal.
I also lost focus a few times and failed to enter trades in RIMM (beautiful gap up & falling bullish wedge), CLF (gap up & bull flag), NUE (Cup & Handle type pattern at the top of Friday's high), & AMSC (A focus list stock with a base & break @ 33). Ouch.
I'm going to spend some time thinking of ways to force myself to stay in solid trades & better manage my screen space so I don't miss out on setups I've been stalking.
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