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Thursday, March 23, 2006

Thursday's action

The market provided some "quick hits" this morning:

SNY - break of the second bar low.
SCHL - move off the low, break of the second bar high.
MLS - move off the low, break of the third bar high.

edit - comments on comments; for some reason, I cannot post a reply to the comments. Here is what I was trying to post:

"Zoomie...I entered HLIT on a break of the second bar. It is taking a while to work out. Thanks for the longer-term analysis. Regarding RMBS, I agree with the comment that it would be more bullish if the hammer was green (I am not in it, but it may still work out). It is not a bad set-up, I just found better set-ups this morning.

And, yes on MLS. But take some profits if it reverses!"

Good luck all - I will post charts tonight.

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Samuel said...

Hey, is MLS now a break and butter sell? It looks like a good set-up. Maybe two good trades from it today?

Shay said...

Is RMBS a bread and butter setup on the break of the 5th bar high?


Jack in LA said...

Woohoo! I made $1 off schl. I am going to quit while I am ahead. Thanks for the blog!

Anonymous said...

RMBS looks good to me, except the hammer didn't close positive. I still think it is a low risk play, but just my opinion.


Anonymous said...

Anyone see SWFT? Got in at the break of the 4th bar doji.

Dave C

Zoomie said...

HLIT, 15 min, long off 2nd (hammerlike) bar. It is tryin to break out of a 11 month base, on good volume (added bonus).

Samuel said...

I took your advice on MLS and closed with a .50 gain. Thanks and have a good afternoon.

Anonymous said...

Well if you held RMBS utnil the close, you ended up with 20 cents. It never hit the stop.


Shay said...

NEW 30 minutes chart - long on the break of the third bar. The first bar is a strong wide range bar, the following two are small weak ones and the third is an inside bar. Bars 2 and 3 does not penetrate the 50% mark of the first bar.
Sell on the 168% extension for ~$1.6 profit.