Wednesday, April 22, 2009

BGZ Stopped Out??

My data shows that the low at 3:13 ET on BGZ was exactly 46.65. There are still 25 mintues until close as I type this, but in short if anyone was stopped out, I would suggest getting back in BGZ before the close today. If anyone got stopped out please post a comment (even if anonymous) and let me know, as I am interested to see if that little dip did fill the orders across the board.

The rationale here is that the 60 minute stochastics is overbought at a lower high than the lat overbought signal. Also, prices immediately reversed after QQQQ briefly exceeded Friday's high. This has set-up a divergence in the short-term model which is a good bit lower than last Thursday and Friday. Bearish reversal candle sticks formed on the 2:30-3:30 ET candle across the board. Also the Dow and S&P are not that close to making a new high, so that sets up a non-confirmation type situation potentially.

Anyway, I will post the trade as a stop out and then a new trade with the entry at 48.40 where BGZ is at the time of this typing.


Pete
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10 comments:

  1. cdudeApril 22, 2009 at 3:57 PM

    Stopped out but back in at 78.73 (3:45)

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  2. bApril 22, 2009 at 3:57 PM

    hi pete,

    i saw it hit 46.65 for just a second too. funny sort of. but today i was able to watch, and as bgz approached the stop i decided to remove it, thinking that around 46.50, or maybe 45.5, would be very near, or perhaps the bottom for today. plus, it seemed like a low risk to remove the stop at that particular moment.

    ReplyDelete
  3. UnknownApril 22, 2009 at 4:01 PM

    I had put a higher stop in myself and got stopped out, but re-entered at $47.35 today. I like how fair you are with your trade records.

    ReplyDelete
  4. Pete BirchlerApril 22, 2009 at 4:04 PM

    Ah the joy and insanity of 3x ETF's. As I typed this post to suggest reentry, BGZ was at 47.50. I typed a couple sentences and looked back literally 3 minutes later and it was at 48.40.

    Anyway, I am really anxious to know if anyone/everyone got stopped out, so let me know. I have never had that happen before where the market bottomed to the penny on a stop loss.

    Lesson of the day.....market makers are jerks.

    ReplyDelete
  5. jskApril 22, 2009 at 4:09 PM

    I got stopped out, too. Didn't see the message until 4:03. I put in a market order for the a.m. The after market price is up above 50.

    ReplyDelete
  6. bApril 22, 2009 at 4:16 PM

    haha! they saw the target and hit a bullseye! just to clarify, i did not get stopped out. i removed the stop, planning to do a market exit if needed.

    that was insanity. roughly 6% in about 45 minutes, twice (one down & one up) on the same day.

    ReplyDelete
  7. Pete BirchlerApril 22, 2009 at 4:17 PM

    cdude, I assume you mean 48.73?? not 78.73....

    b, I didn't have the stop in either. I have said before on the blog that I prefer to just go by the indicators for these short-term trades. But for blog purposes I try to reduce risk quickly if possible, especially with the 3x ETF's.

    I really didn't trust that afternoon rally, so I am glad that those who got stopped out, had the confidence to get back in.

    I have the stop loss for the trade posted at 46.65 still because with the reversal this afternoon, we now have a specific chart point to be able to place the stop.

    The rationale for the previous stop was to not let a nice gain turn to a loser, so in that sense, the stop was imposing its will on the market (which usually isn't good) rather than being at a chart defined point.

    Hopefully we get follow through tomorrow, which is my guess.

    ReplyDelete
  8. cdudeApril 22, 2009 at 4:35 PM

    Whoops..yes, I meant 48.73

    Pete,
    Do you know if there is a way for one to automatically get txt message alerts whenever the blog is updated?

    ReplyDelete
  9. Pete BirchlerApril 23, 2009 at 11:41 AM

    cdude,

    I think that is possible with RSS feeds and feedburner, but I don't really know that much about it. I will try to look into is some, but if you have any experience with receiving feeds from other blogs, please give me some info.

    I think blogger has some built in capacity for burning feeds, but I am super tech savy and have not got feeds from other blogs before either.

    I will ask anyone (in an upcoming post) with experience to try to help me out with that if it is possible.

    ReplyDelete
  10. bApril 23, 2009 at 11:55 AM

    i had been wondering the same thing cdude, but i hadn't gotten to checking it out yet.

    i did a quick search and found this:
    http://www.ritawilhelm.com/2009/03/12/how-to-get-a-blogspot-rss-url-get-your-rss-url-for-your-blogger-blog/

    which led me to do this:
    http://stockmarketalchemy.blogspot.com/atom.xml

    which i configured for outlook. i'll have to see how well it works. if you try it and you get a feed, please let everyone know and what you did. thanks!

    ReplyDelete

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