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Thursday, February 08, 2007

ALKS - 020807; 30-minute chart

posted by Tom C:

Some of you may have passed on this - there were a few "red flags", namely an entry below the OR high and the 5MA not being as close as you may have preferred.

As discussed in the past week, the proximity of the 5MA is relative; while I would have preferred it closer to the current price, it was not that far away.

The entry was a break of the 4th bar high and the target was the Fibonacci extension of the previous day's low to the OR high.

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ADD Trader said...

Hi Tom,

Nothing gives me more confidence in my trading progress than pulling up your site and seeing that I traded the same stock, and in the same way that you did.

Although I made a good profit on the trade, I gave back some of it on another trade that didn't work out as well. This brings up a question. Do you limit the number or trades you take each day, or will you take as many as there are valid set ups?

Thanks for your help.

ADD Trader

Teddy DaRussian said...

Hey Tom great trade - was wondering do you trade off only 30 min charts or both 15 and 30 and when do you make the destinction as to which one you will base your trade off of

KayakHandy said...

ALKS was a real surprise on earnings. I mean no one expected those kinds of sales from ALKS. This shows me that Doctors are willing to scrib to alcholics in the future. Not only did I take a day trade in ALKS like you guys but left some on deck for trading around a position.

I sse ALKS going to $22.00.

G.R. said...

What is the blue on your volume bars?