I placed a buy stop order 5 cents above yesterday's high and I was filled on the open. JCOM didn't really do much in the early going, but shortly after 11:00 it started moving up very quickly. When I noticed the euphoric volume spike just before noon, I decided to exit the entire position. Euphoric volume spikes after big moves to the upside, usually foreshadow the end of the move in much the same way as a capitulation volume spike at the end of a steep move down does.
Wednesday, June 21, 2006
Trade of the Day - JCOM
I placed a buy stop order 5 cents above yesterday's high and I was filled on the open. JCOM didn't really do much in the early going, but shortly after 11:00 it started moving up very quickly. When I noticed the euphoric volume spike just before noon, I decided to exit the entire position. Euphoric volume spikes after big moves to the upside, usually foreshadow the end of the move in much the same way as a capitulation volume spike at the end of a steep move down does.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment