Today was interesting with the gap up in the morning. Based on the stochastics, it looked to me like everything was overbought, so I thought that even though the market was strong, we would see a minor sell off initially. This did occur, and I took SRS long. Unfortunately, as quickly as I was in the money, I was out of the money taking a hit of $0.41 cents. Not terrible. After I noticed that the market was strong, I waited for the 9:50am reversal and took SPG long off the 5m chart and made a point very quickly! Afterwards, I took 2 small scalps for a total of $0.12 cents, and I am calling it a day for now. Gross profits for the day = $0.73! Gross profits for the week = -$3.50 :-(
This is the first time I have ended the week with a loss in 12 weeks. Still not too shabby though. All I know is that any trades I take in SKF will be on paper and not live!
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