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Wednesday, December 06, 2006

Wednesday's action

A lot of opportunities this morning - I got a "quick hit" in SPF; it was a small gap up and a nice set-up with the second bar "in the tail" of the first.

And DIVX was interesting - I did not like the long upper tails on the second and fourth bars, but I liked the overall action of the first six bars as they consolidated below the OR high, and I entered on a break of the sixth bar high for a very quick profit as it rocketed to the Fibonacci extension.

Both were 15-minute charts, and note the support from a rising 5MA. More later today.

And check out Wallstrip.com - a very funny episode today:




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5 comments:

Randal said...

Hey X, I got a quick hit this morning to with STP. On the 4th bar, 15-minute chart.

Anonymous said...

SPF still running. Nice close above the Fib extension.

TJ

Anonymous said...

Scratch that, didn't work. Good trade on your part though.

TJ

Jim said...

That Fib extension is wicked. You should patent it.

Trader-X said...

lol. I didn't "invent" it.