Monday, October 30, 2006

Dummy Trade of the Day - Entercom Communications Corp. (Public, NYSE:ETM)

ETM was picked up on my gapper scan and it had all of the key elements that I look for in a gapper setup: high volume relative to the previous four sessions; fairly narrow gap consolidation while the MA catches up to price; and continuation following a test of the OR high. That continuation bar was my entry. My exit was the first lower high following the evening star reversal top.

2 comments:

eR0CKing said...

What do you use for your gap scan? I'm looking for a gap scanner that's free and web-based ... any suggestions?

-Erich

Jamie said...

Hi Erich,

I believe that prophet.net has a free scanner or at least a free trial. I use Trade-Ideas and Stockcharts.com, neither of which are free.