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Monday, January 09, 2006

Homework - 010906

Would you have traded URBN? Answer the three questions.

And, you guys should have this memorized by now:
As with any entry below/above a previous high/low (in the case of my charts, the opening range (OR) high/low), you need to watch for resistance/support as price approaches those levels. If it stalls, you want to exit. If it breaks through, the odds are good you will have a move to the corresponding Fibonacci extension.

Notes - SIRI closed weak today after a gap up. I still have the same stop in place - see my previous posts.

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