Market Curiosity: Exploring Markets And Systems

January 27, 2011

Entering a few Agent Smith orders in CCJ -3%, KO, BIIB -1%

Filed under: -0 to -4%, Short Stock — Tags: , , — Jeff Fitzmyers @ 8:00 am

“After that, I understood the rules, I knew what I was supposed to do, but I didn’t. I couldn’t. I was compelled to stay, compelled to disobey.” — Agent Smith

Agent Smith’s are when when price seems like it “should” keep trending, yet doesn’t.

+ Yesterday gapped down and closed up.
+ Price closed above the 34 EMA.
+ Daily CCI is not too high.
+ Weekly CCI might be flattening out — could easily turn up.
These 2 items are are present, but the main point is that price “should” be going up, but didn’t. (
– 5 distribution days in past month.
– Weekly RSI > 70.

These order’s is don’t trigger too often, but when they do, there is rarely much of a drawdown.

Jan 25: Short CCJ at 31.10. Not as much follow through as expected though.
Stop loss is 39.2.

Also short BIIB at 66.53. Tight stop around 67.30. Should have broken the rising trendline and didn’t.

Jan 26: Stopped out of BIIB yesterday, -1%; and CCJ -3%.
Will be interesting to look back in a few days and see what I can learn.

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