It was another boring day as everyone waited for the FOMC announcement, I guess. I traded CWTR which I thought was a pretty darn good setup. I ended up being stopped out by just a couple cents about an hour after I entered. I thought this was going to turn into one of those trades that confirms my “don’t move my stop to soon” strategy and it almost did. Perhaps on a day where the market gapped up instead of down this might have been a winner.

The first thing I noticed today was even though the market gapped down significantly, there were VERY few stocks that gapped today. I ended up with 5 longs and 5 shorts on my trading radar at 10:05AM or so and most of those fizzled out badly and lost their privilege of being on my monitor very quickly.

I also wanted to thank those who send along encouraging comments about this blog - I really appreciate it!

Here’s the chart of CWTR:

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