"A man is not finished when he is defeated. He is finished when he quits."

Thursday, May 13, 2010

May 13


I took just a few minutes again today to practice-trade. Took two trades, one in RIG and the last in LVS, basically just using S/R and volume clues to try to play the probabilities as best I could. Both trades were successful but more scalps than anything. I liked that I picked what appears right now to be a reversal point to short LVS... $24.85. If this turns out to be a double-top formation, it will have been a great entry at a primary reversal point. If not, it will be a successful pegging of a minor reversal point. Time will tell. After blogger uploads the chart, I can't stick around to find out, there's work to be done elsewhere!

Still waiting for Blogger and it's 15 mins later. Chart of LVS still showing red as price approaches the 17EMA $24.70. Nice... but now retreating from that level back toward $24.75 S/R.

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