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Monday, September 25, 2006

Welcome to a new trading week

Start the week off right and make some good trades!

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sung said...

Curious to know if you shorted FOXH this morning. Where did you cover if you did?


Prospectus said...

Long: Watching PHRM, DJO, and CHRS to break OR resistance.

Anonymous said...

sung, I did and made a nice, quick gain off of it. FYI - I usually use the previous day's last swing point whereas X uses the previous day's high. The previous day's last swing point was around 28.80, and it gives you a more conservative target at the Fib extension which really paid off on FOXH as it reversed sharply.


EM said...

X, Tom C. -

Is a stock's price action from the previous two days long enough of a time period to determine if the first bar of the current day is too 'wide'? Wondering if I should be looking at a 5 day chart and not 3.


Trader-X said...

EM, personally I look as far back as my chart has - at least 10 days.

I am going to be posting about the wide-range first bar and better ways to tell what is too much later this week.