Today we bought GLUU in the boom room on a breakout. The GLUU chart was a classic diagonal price break of resistance. Often you see traders draw horizontal support and resistance lines.. but remember there is also diagonal support and resistance occuring on alot of charts. You have to train your eye to be able to …
On Friday, we caught $DANG for a nice $340 profit. Although I sold too early, I wanted to review the trade and why it worked. $DANG was on a lot of people’s radars going into Friday’s open because the chart was so perfect. It closed on Thursday right at the breakout spot. While it’s really easy to …
Read more$DANG Trade Review – Aligning on Multiple Time Frames
KITD, We traded this one on Wednesday 6/13/11, as this stock has over 40% short float and finally trying to come back from huge a downturn. As you can see on the daily chart , even though the price was in a downtrend , Long term swing indicators like MACD and CCI were trending …
Read moreKITD : Rinse an repeat trade with almost 20% round trip.
MGAM, We traded this stock with 6.5% gain in the chat room with 1.17% risk. This stock gapped up in May and did nothing since then. I have been watching this stock for a while now. It filled that gap to 11.50 twice and should have died during the Market weakness. But this one …
We traded pcrx for a nice quick profit on wednesday and I was going to go over the mechanics of the trade. Parabolic shorts have always been one of my “go to” setups. Here is another blog from the past explaining the setup as well.. check it out if you haven’t already. If you are new to …
Here is a trade we did on $NAV on June 11th. I like this type of setup. It’s essentially a breakdown pullback play. Essentially, it occurs when a stock is in a huge downtrend and then out of nowhere has a big spike. Usually those stocks tend to fail right back to their prior trends. …