CKFR looks ready for some further downside action. Careful of supports at $35 and $34.
TTWO looks poised to breakout.
RBAK broke out this morning and pulled back (after kissing the 50 MA) in an orderly fashion this afternoon. Look for a potential reversal and a retest of today's highs.
Other Watch List Names
CTXS - Look for continuation tomorrow.
RIMM - Consolidating recent gains but closed on its lows so we wait.
AKAM - Still consolidating but today it carved out a lower high and a higher low.
GENZ - Lots of support at $66.00 but can it hold?
Click on charts to enlarge.
1 comment:
Thanks Troy!
Hope you enjoyed Mastering the Trade as much as I am. I'm not quite finished yet, but everything I've read so far rings true. Carter is a very experienced trader with a large assortment of setups. I'm sure that trading by him is never boring.
So far I've been studying his setups on some of my favorite stock picks and trying to make them work for me. In most cases, I look for some sort of confirmation before taking a position so I need to add something to his setups in order to be comfortable trading them. In other cases, like the squeeze (Ch. 10), I need less information. This setup is one I am very familiar with and prefer to trade with just price and volume.
You say that you are relatively new to trading and as I think back to my early days of trading, I'm sure that I would have been overwelmed by all of the information presented in carter's book. I've found over the years that some books are well worth re-reading after you have experienced different types of trading environments. Some setups work better in trending markets and others work better in trading ranges.
For my purposes I will be using it as a reference book and adding it to favorites list.
Hope this is helpful.
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