August 28th - A bit later...

Here's where it is now. I've been watching it (as well as eating lunch) instead of trading it.

It just closed above the 7 EMA at the 12:35 pm candle at $48.98. An exit on my trade here would have given me a gain of $4830.

However, this is a delayed/late exit. The ideal exit signal would have been at the close of the 12:15pm candle, corresponding to the high volume spike and long tail/wick on the candle. An exit here at $46.60 would have yielded $7,210 in gains. A nice trade...

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I'm outta here. We're going for a bike ride. Only for the afternoon, though. Bad weather coming in for the week-end so no overnights until next week.

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Good trading to all. May your endeavors be educationally and financially profitable!

August 28th - Mid-Day

I had been waiting for about 30 minutes for a move in AIG. I always consider the filling of an opening gap.

The stock is still sinking even after this screen shot so I really missed most of the trade. But I am happy about pegging the breakdown. I looked for the string of closes below the 7 EMA then took it short just before the drop. What I have to learn now is patience... to hold my winners... the stock is at $48.11 right now and if I had held, I'd be up $5700 on this trade so far, instead of only up $554. I sold at what I thought would be a resistence level set by the 9:40 & 9:45 am candles. The stock has not threatened a break of the 7 EMA, the sell signal I am considering adopting.

Ok, looks like a potential reversal candle is forming at 11:55pm... we'll see how it goes.