As highlighted in my weekend posts, GNSS was strong and could move higher. As soon as the real body of the first 15 min. bar was taken out, a position was taken. Exit into the close.
RIMM traded up in pre-market but fell nicely into the support of its trendline as the market opened. The first 15 min. bar was weak but formed a hammer which implied a potential reversal. The second bar was also weak but did not take out the low of the first bar so this was an indicationt that the support of the trend line was holding. The third bar was bullish and a position was entered .05 above the real body of the second bar. The entire position was closed as price approached $76.00. I'm not looking for continuation tomorrow as RIMM formed a long upper shadow on the daily chart and looks like it could move lower, or at least consolidate from here.5:08 p.m. - We had a few good trades this morning with RIMM and GNSS. I will be publishing my regular daily posts later tonight (after 10:00 p.m. EST) as I have some personal business to attend to.
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