Back In The Saddle

It feels like it’s been ages since I’ve sat down and traded properly. The whole Walsh family has been sick. No covid-19 here, fortunately, but it’s not been pleasant. The older I get the longer it takes me to get over these things, so even after supposedly beating the lurgy, my energy and motivation have been somewhat sapped.

Anyway, enough self-pity, there’s a market out there to be traded. By all accounts I’ve missed some stellar moves (usual caveats about profiting from other people’s misfortune apply). Monday didn’t strike me as much in the way of special, but on-off core stock GILD provided a couple of nice setups:

To be honest I would have been happy with just the first one. It was a classic setup, well signaled, easy to trade. Could have squeezed more from the exit, but you have to call it like you see it as it’s unfolding. Almost $500 (assuming a 1000-share position) is not a bad way to ease back into the saddle.

But lo, after making a nice triangle it went for it a second time. My entry was late as I waited a bit to see how it would play out. With some profit already banked, it was worth the risk, which paid off handsomely.

I won’t be trading every day this week because not all the family are fully recovered, and looking after them is my priority. But it is nice to get back to some charts.