How I traded $PRGS

$PRGS was one of my ideas to short which I got off my scanners. this am Didn’t really see much premarket, but this one looked good once the market opened.

Made 3 attempts on $PRGS

Attempt 1: stop out for small loss

Attempt 2: Kind scratch trade , got out on the break of the trendline was looking for a more fluid downtrend.

Attempt 3: got that woosh move I was looking for.

Overall a decent day for a Friday.

Closing the week out 3-green days 2-scratch or flat days.

$SPY looks trickier from here. We saw big selling into close and today we saw a big rally into close. Something to note is we are still below the key 133.70 and movement toward it is on lighter volume. Next week we will have to see if we get a good follow thru.

Check out my yet another on point analysis: This one was on $MCD https://dchsn6.wordpress.com/2012/06/08/mcd-lost-its-mojo-back-on-feb-16-2012/  if u missed it.

If you want to see real time how I navigate through these markets

Follow me on twitter https://twitter.com/#!/dchsn6

Facebook: https://www.facebook.com/Dchsn6

dchsn6

LEVERAGE and COMMISSION for my FELLOW Traders:

If you need leverage on your capital and are looking for 100%payout on your profits with competitive commission rates. Email me: dchsn6@gmail.com  and I can help you to join my group and get a group discount. Why pay more when you can pay less.

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