Basically, the market dropped a good bit yesterday coming into today. I aggressively bought and sold UAUA @ 5,000 shares. Later in the day, I saw a buy back in at a lower price 6.35, took it and sold 2000 more at 6.55.
I bought and sold AMR @ 2000 shares. I have a couple charts to show my buy in's. Ill show a couple different looks of the same chart. I took a large risk buying into airline earnings, but it was a gamble that paid off very well. I honestly missed the bottom by about 20 cents (should have bought 2,000 more at $4.00 but thats another day), but the dollar increase eased my troubles
As for positions, I still own 1,000 XLF. I will be dumping that tomrrow if the conditions are right.
Also, at the bottom, will be a stock that I don't trade, but a friend texted me asking about early in the day.
Here is the UAUA with my buy ins:
Here is the AMR chart:
Here is the HIG. The main reason I am posting this is because I want my friend to see what I saw on the charts. Bars were outside the channel. More than likely going to see a trend reversal (not always).
Good luck
R
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