Trade of the Day - BRCM

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I wasn't able to trade this morning because eSignal's level II quote screens were not working properly. I'm not sure if it was a Nasdaq glitch or an eSignal problem. Anyway, by the time I was able to get back into the game, most of the best opportunities were finished.

Here is a trade I took hoping for a 62% retracement from the high of the day. As luck would have it, I was very happy when it retraced 100%. My entry was based on taking out the open of the last red candle of the pullback. As you can see from the chart, this was triggered on the second green candle @ $53.28. I stayed in the trade until near the close and adjusted my stops along the way because when the 62% retracement level was reached, I felt it could go higher.