Even so I did manage to squeeze in a couple of trades to see how the HGD ETF works with market orders for entry, pretty much exactly as I figured. This will make life a lot easier and get me into more of the trades that I see setting up as a market order is a guaranteed order fill and with these volumes and small spreads they are fairly predictable.
I marked three trades here but I oly managed the first two. Sadly I bailed on the first one as I got in a little too early in the pattern, got jittery and sold...which is not a bad thing as it could have kept going down. The next trade entry was actually in a lower position by a few cents and I managed to recoup some of the loss, I was out by commissions today which is OK for a pair of testing trades, I have done far worse while testing.
The third trade I marked, it was one of those ones that I saw after it started to move, the generator issue kept me away form actually placing the order but it was a good 15 cent move. Small but with this current wallowing I cannot expect much more than that.
HGU followed the pattern that I figured for the day...or at least the one that I anticipated once it got moving. Once the price crosses the 200 sma (green) it usually stays there for a while and I can use pivot points farther away as targets or launch pads. There were a number of decent trades setup here, the one off the start I didn't get into as it setup after some hovering off the start, I expected a quicker momentum move off the bell to establish a low range price around $12.40 for the day but it never happened, so I missed the entry, thought about taking it but decided to wait it out. Even the late afternoon trading was rather choppy and would not have had me staying in for very long on any trades.
This is one of those better luck tomorrow days. The PPs are getting pretty tight right now, there should be a decent move in one direction or the other soon, perhaps tomorrow, and I hope to be in a position to be able to trade it.
Jeff.
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