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