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Thursday, July 27, 2006

More irony



Note - Yahoo! constantly moves its content, so if you link to it chances are that before too long you will get a dead link like this one. I have quit linking to their content because of it.

8 comments:

Gaptrader88 said...

Rail, nice setup off hammer on 2nd bar,very fast stock, tgt half way to fib extension.

gt88

Anonymous said...

I was worried about that long upper tail on the first bar. Good luck with the trade.

TJ

Gaptrader88 said...

you were right about that long 1st bar tail TJ. I was stopped out on the break of the fourth bar body bottom with slippage,with a nice gain, should of locked in gravy. I thought Trader X likes the long tail either way?

Gt88

Anonymous said...

Hey GapTrader - he likes upper tails when there are other factors such as several bars in the top 1/2 of the day's range, close to a breakout. The problem I see with rail is that the first bar price closed below the 1/2-way point of the bar's range leaving the upper tail...in my mind, bearish. And the second bar also closed below the 1/2-way point of the first bar.

But I am no expert. Just what I see. Good luck.

TJ

Clive J said...

Hi gaptrader88,

I also looked at RAIL & noticed it started trading around 08.30 today. I calculated the fib extn from the previous session low to the first 15min-bar high as $56.86. Not too far away from the $57.00 session high.

I didn't go long as the morning's move had started at around $53.50 and some hammer-type bars had already appeared.

Just my thoughts!

I traded AKAM today, long on break of 10th-bar hammer above 15min OR. Would anyone agree that looked OK?

Clive J

Anonymous said...

Hey Clive - to me AKAM was kind of like RAIL in that the preceeding bar was pretty weak...it was wide-range, closed weak, and left a long upper tail. Again just my opinion, but I like entering when there are not any "red-flags" like that.

TJ

Tony S. said...

Great conversation here. Anyone see the bottom fall out of KOMG?

Clive J said...

Hi TJ,

Thanks for the comments on AKAM. I'm still learning a lot. To cap it all, I missed a text-book set-up on BG because I forgot to include it on my watchlist!

Happy days!

Clive J