tradersams blog

iif open

IIF: Opened a position with the ING Industrial units today at 0.325.

This is the second trade in IIF over the last few months – the lat one just before I started this blog.  I found it originally from a heat map scan in April when it was showing a very good volume in the market at that time.  The volume was down a little over the last 2-3 week s, with a good increase over the last two days, spiking nicely on friday.  The entry was effected during the days trade when the price traded over 0.325 after noon (set the trade night before as I am doing a lot lately).

The graph is not really a true ascending triangle as there is really only one bounce off the top resistance line, rather than the two I would prefer.  Still, a strong looking pattern, so will ride this one through.

System A:  Did the weekend scan this afternoon – the system still is not firing, so will carry on discretionary trading.

Portfolio tracking:

So here’s a question for anyone who reads this – I’m after suggestions for tracking my portfolio on this blog… as you can see on the link buttons I’ve made a start, but it seems like it will take a while for me to keep it updated – I’m looking for an easy way to do this. I’ve got ideas… but…

Anyway, the bulls seems to be taking a breather – but my graphs think they are still running.  Lets see what this week has in store for us!!