Frustrating Choppy Day - STP / POT / CRM / BUCY
Started the day with a base & break short on BUCY through 130, from which it spiked up immediately to eventually stop out.... only to break down later in the day. Nice -1R!
Went on to short STP (one of the few solars where shares were available @ ThinkOrSwim) out of a bear flag and covered a little early, +2R.
Thought POT was forming an ascending triangle, yet it lacked follow through and I closed it for +1/3R. That Ascending triangle became a rising bearish wedge so I went short, yet I covered way too early. My last 2 short trades in that stock have both been covered too soon.
I missed CRM's bull flag early in the day but saw it setup an inverse C&H type pattern @ the ORH late in the day. I was up a little more than 1R, when it reversed quickly and stopped me out for B/E.
Bleh!
If that wasn't enough, I forgot to buy small put position on BIDU @ the open. It looks like its put in a short term double top & is a stock that's too volatile to swing trade. Who knows maybe it'll bounce here, but I think it can come close to retesting that 300 level.
I may or may not post the charts later. I'm debating just taking tomorrow off and enjoying the long weekend.
I have a feeling tomorrow maybe a low volume chop fest. If I do trade tomorrow, I'll only deal with securities posting significantly higher than average volume.
Swing position updates: Sold 1/2 of DUG @ ~27.25 & I still have my DBA, which did come close to stopping out.
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