Tuesday, May 21, 2013
NTAP support play
This one looks good for tomorrow, it has to hold 37 for me to trade. Ideally I would like to see one good green bar on the 1st 5 min, followed by a small 2 bar pullbacks either on 1 min or 5 min before resuming its upward movement. Lets see how we play it tomorrow.
SKS size matters
To play this as a day trade, size matters in this case. It moved about 60 cents with a 20 cent stop, one will get about 3R. so the only way to max your profits in this one is to add to your position. I did not pay it due to the big green bar yesterday and generally this stock does not have much momentum for a day trade.
TIVO long worked
TDW long
This pattern did not work, the fade also did not work. Coming back to the day's low and going long the 1st time didnt work, but eventually it did work. Got stopped out.
MDT long today
I played MDT today, went long. Ideally I like it when the gap is a bit closer to the support on daily. I still played it started very small since I expected it to come back a bit, but this one just kept going up and went very nicely with very clean pattern.
HLF long
This one generally does not work due to the BIG GREEN bar of yesterday. It cleanly went above it yday and most likely the next 2-3 days are inside days and do not show much strength. it may again starrt working after that.
This is just a general obsevation
This is just a general obsevation
DKS long
Check out how DKS long at open worked. This was a short candidate below the support line. But after the 1st 5 min, it just roared back and went higher. See how this could have been played. Not a neat pattern.
Like longs to be above and clearly above support area.
Like longs to be above and clearly above support area.
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