Trading Recap 12/10/15

I was finally able to trade today although I didn't take any trades which was foolish since there were easy pickings.


KMI: I had this on long watch and saw in premkt that it had gapped down a bit and was holding the 16.5 area. I wanted to see this area hold and then push or flush and then reclaim for a long. After a couple of minutes it started to push at 9:34 and I should have went in, but didn't. I think I wanted to see a higher low but in reality I knew it was a solid setup and should have just went for it since it was low risk. Afterwards, it looked like it was going to breakout even more so I thought about going long but didn't because I had to go soon. It went up a bit but then the breakout failed and it started to come back down. It might have been a crowded long at this point since I saw a few people on twitter going long all at once. This stock trades millions of shares though so it may not be the case.

MW: I saw this gapping down and thought it could be a good short for continuation downward. I wanted lower highs/pops to short. The resistance was at 14.5 and it did get there a couple of times but it didn't have that look yet until it had a lower high but by then the risk was a bit too much so I didn't go in. It did have a nice little wash but then it came back and grinded the rest of the day.

FSNN: I had this on short watch if it popped a bit. It did pop to the premkt resistance and then dropped and that was it. Hard to tell if this was going to go more but it was probably done given it already retraced most of the move.

LIVE: This was a miss for me today. It unhalted and spiked up quite a bit. But then it tried to go higher and stalled and then consolidated and then just dropped. With moves like this when it stalls, chances are it's going to drop as the buyers are all gone and everybody is thinking "well what now?". The fact that it clearly couldn't get breakout anymore was an obvious sign for a short that I did not see in realtime.

ONTY: I had this on short watch if it had any decent pops/parabolics. The SSR was on so that helped it when it ended up going parabolic towards $2.5. I should have shorted here as it was prior resistance and it had exhaustion volume around that area as well.