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Monday, April 02, 2007

Monday's charts

posted by Tom C:

CEPH is a trade I would have missed before I started hanging out with Trader-X. It gapped up, consolidated and made a series of higher-lows as it moved back to the OR high. The 15th bar crossed the OR high and closed strong...though not at its high. The 16th bar was a "gravestone-doji" at support from the OR high and the rising 5MA.

My entry was a break of the 16th bar high, and I sold at the Fibonacci extension of the previous day's low to the OR high.



I almost passed on ALLT because of the wide-range first bar. But I could not resist the long upper tail on the 7th bar, followed by a weak close below the OR low on the 8th bar. I entered on a break of the 8th bar low and covered when price closed above the 5MA at around 2:30EST. The total gain was .36, or almost 5%.



Jamie, I posted it 1st so I win. Please send me my $25 McDonald's gift certificate via email.

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9 comments:

Jamie said...

Nice work Tom. Our CEPH trades are almost identical.

Zoomie said...

I thought the loser would get a $25 gift certificate from MacDonalds ;)

ADD Trader said...

Hi Tom,

Always nice when I trade the same stock as one of you pros. Makes me think I am learning something (finally). Thanks for your posts.

ADD Trader

Chris said...

Hey - that is where I take all my first dates.

Come to think of it, I don't get many second dates.

Prospectus said...

I traded it too, but I bailed early :(

http://www.movethemarkets.com/blog/2007/04/02/high-on-ceph/

And my post was up first ;P

bl said...

Interesting Profitable Scan: >$10 >+2% >10K first opeing 10 min cut off, long only. "3rd-5min bar b/o" (from Farley): bamm wlt car hot drys wlk son holx. "U b/o"(from TraderX): jsda grow tsu jbht ceph vclk gmrk mtn. I threw out bamm for low volume and tsu for being foreign!! 75% <$40. Long WLT JSDA b/o missed GROW. Fib and 13 ema abound. The site is a blessing.

Gary said...

does anyone know of a software that can be programmed to look at candlesticks--like send an alert when a doji forms etc etc

OONR7 said...

gary... quotetracker has a feature that's called paintbars. You can enter any criteria you want (hammer, doji, nr7, etc...). Very helpful. Here's some more info: http://www.quotetracker.biz/QTHelp/paintbars.htm

bl said...

Gary,
Check out Trade Ideas...Scottrade has it for free.