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Intra-Day Action – Day trading Biotech XBI

Going to do something a little different today. I saw an opportunity intra-day to play XBI  which is the S&P Biotech sector. Full disclosure: I am long XBI for a swing trade at the moment and I am near my stop loss. This was a good opportunity to play a shorter time frame trade and minimize the damage if I do get stopped out of my swing position.


The key is not to add this trade to my swing trade if price had of gone against me. The two should remain separate and I don’t want to compound the problem by adding more shares to a losing trade (averaging down).


The setup for XBI is still dislocated and cheap and the daily chart has only gotten more oversold. Leaving XBI ripe for a good reversal intra-day. I call this a “Hit and Run” trade when you have two wide range bars with volume the selling pressure can’t continue in the short term and a playable intra-day reversal can be a very good play….

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Intra-Day Action – 27 January 2016

Another interesting day with some great learning to be had. Multiple news items came into play today. The 10:30 Crude inventories was a huge build but Oil had traded down into the announcement then rallied. The news was “priced in” and it was a good learning moment if you were watching it live.

Everybody knew that the number was going to be negative, Business news was talking about it all morning. It was a case of “sell the rumor and buy the news”.

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Intra-Day Action – 26 January 2016

Today was a great day for day trading. The trend quality was strong and lasted most of the day. There was good alignment with all the internals (and Risk ladder), Oil, $tyx (yields) and VIX. When you have all that in place trades work out much better and you see fewer failed patterns.

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Intra-Day Action – 25 January 2016

Today’s action on the S&P 500 was very narrow with lighter than average volume. If you know what to look for; the internals and candles will offer you the “clues” you need to make higher probability trades.


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Intra-Day Action – 22 January 2016

Here today’s action on the S&P 500 as I saw it. I didn’t include everything on the chart (I’d run out of space) but the key is to look at every candle objectively and ask “what is happening here”. If the Bulls win the bar and it’s over a resistance point it should follow through. If it doesn’t something is not working as it should and you need to stay objective and see how the next bar reacts.

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