Today's trade of the day is strangely similar to yesterday's. I was hoping to be able to hold BRCM for a bigger gain on the open, especially given the upgrade. However, the markets were weak again today and tested yesterday's lows. I sold my swing trade just after the open. After a pullback to support, BRCM could not rally so I went short and it retested of yesterday's low followed by a rally back up to yesterday's close. We have another consolidation day with the highs and lows and close matching yesterday's. Maybe we can do this again tomorrow and just keep making the same money over and over again. I had to close off early today so these were my only trades on the day.
Tuesday, May 16, 2006
Trade of the Day - BRCM
Today's trade of the day is strangely similar to yesterday's. I was hoping to be able to hold BRCM for a bigger gain on the open, especially given the upgrade. However, the markets were weak again today and tested yesterday's lows. I sold my swing trade just after the open. After a pullback to support, BRCM could not rally so I went short and it retested of yesterday's low followed by a rally back up to yesterday's close. We have another consolidation day with the highs and lows and close matching yesterday's. Maybe we can do this again tomorrow and just keep making the same money over and over again. I had to close off early today so these were my only trades on the day.
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