Wednesday, June 4, 2008

Sling Shot Short - MHP

15 minute chart

Stock: MHP 15 minute chart
Entry Green Line: 43.69
Stop Red Line: 43.96
Result: .15 to .30
Setup Grade
: B+
Notes: Way up on the day, lots of room to the 5EMA, always scale out as you go as these can reverse quickly.

* Grade is according my rules for each setup outline in my business plan. The grade is for the setup not the end result.

* Feel free to post any trades you made today that you would like commented on

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Disclaimer

I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES - I JUST POST TRADES I MAKE OR FIT THE RULES OF MY TRADING PLAN ON A DAILY BASIS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS! ALL CHARTS COURTESY OF TRADESTATION, SCHWAb & TD AMERITRADE