As per last night's watch list, ATHR was trading down in pre-market (as were many tech names) and fell out of its bearish rising wedge on the open. My entry was $16.80 and I covered 50% shortly before the 10:00 reversal time as price started to rise rapidly. I was stopped out on the balance of my trade just above $16.00 in mid-morning. The rest of the trading day was narrow range so I didn't take any other positions.
Friday, July 21, 2006
Trade of the Day - Atheros Communications Inc. NASDAQ (ATHR)
As per last night's watch list, ATHR was trading down in pre-market (as were many tech names) and fell out of its bearish rising wedge on the open. My entry was $16.80 and I covered 50% shortly before the 10:00 reversal time as price started to rise rapidly. I was stopped out on the balance of my trade just above $16.00 in mid-morning. The rest of the trading day was narrow range so I didn't take any other positions.
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2 comments:
Hi Jamie,
Thank you for your email. It was full of terrific information. I am learning another way to trade from your website. I have a question. Could you please tell me which website you go to for premarket infomation? My Dad and I have a site but I would like to know what you use. Last week I traded Nasdaq and you are right it is alot easier and faster to short. NYSE is tricky sometimes. My Dad says hello and thank you for the email.
Your student. Thomas
Hi Thomas,
Great question, I use several different sites for pre-market information and I will do a post outlining my pre-market preparation over the weekend. Glad to hear that you are trading NASDAQ. I'm sure you will find it fast paced and very profitable!
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