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Monday, March 12, 2007

Welcome to a new trading week!

Focus on a few high quality set-ups and the money will follow.

There were some great comments on the last "Viewer Mail" post - Charles also posted some additional thoughts and details. Check them out here.

ADD Trader made a great post worth reading on his blog - check it out here.

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4 comments:

J said...

Another slim day but found 2 worth trading.

WAT 15M/7B - Exit = 1/2 @ 138 FIB 1/2 @ break LO of 15B (didn't take 6B entry as EMA was a bit far away for my taste)

JSDA 15M/7B - Exit = 1/2 @ 138 FIB still trailing 1/2 (will cover at break of last 15M LO candle)

Hope tomorrow brings all of us a little more to choose from.

TonyB said...

j,

I traded JSDA today too. I also entered on the 7th 15 minute bar. I exited entirely at 18.41, the 38.2 fib retracement. May I ask why you were looking at JDSU? I found it in a list of 52 week highs at stockpickr.com

Thanks,

tony

J said...

tonyb: I use TradeStation it has a HotList of the biggest % movers that is where I saw JSDA for a trade.

bl said...

Interesting: opening 5 min naz >$20 >1pt up/dn >9k vol yielded following: crdn akam cyno esrx stld goog ccoi amgn wynn. I noticed they bounced off the 5 ema and curled up/dn to make a new high/lo on 5 min charts. stld ccoi reversed. News!Sub prime stocks sold off/ lend fed cfc ahm nde fmt/ touched the 5ema/5" and reversed. Homes too. Long akam 3-15m exit break 24-15m for coffee. Not a good trade 3 wide bars at the open but had 5ema support but that was far away too.