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Monday, October 17, 2005

Swing Trade - BCRX

1.) What did I see?
On October 7th, BCRX printed a wide range bar that started a three day run - taking the stock from $10 to ~$15.50. There was a pullback on the 12th and 13th, culminating with a nice hammer (10/13).
2.) What is the entry?
A break of the 10/13 high.
3.) What is the exit?
BCRX explodes on the 14th and continues the run on the 17th. I closed the position at the end of the day on 10/17, as price pulled back from the high of the day to leave a long upper tail (bearish). The total move for this trade was over 20% in two days.

Notes - see How I Trade, and Analyzing Charts - which includes what I look for in a swing trade.

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