TWLL was another potential NR7 play that I posted this morning. As I mentioned, it is not very liquid and so not for everyone's taste. After a quick lift on the open, it chopped around a bit before heading back up towards resistance. At resistance, it traded sideways for a long time until the rising 10 period EMA caught up. This presented a low risk dummy entry on a break of Monday's high. Lots of slippage on the entry, but it moved very nicely after that. In order to avoid slippage on the exit, I let it go when it appeared to be carving out a lower high.Thursday, December 07, 2006
Dummy Trade of the Day - Techwell, Inc. (Public, NASDAQ:TWLL)
TWLL was another potential NR7 play that I posted this morning. As I mentioned, it is not very liquid and so not for everyone's taste. After a quick lift on the open, it chopped around a bit before heading back up towards resistance. At resistance, it traded sideways for a long time until the rising 10 period EMA caught up. This presented a low risk dummy entry on a break of Monday's high. Lots of slippage on the entry, but it moved very nicely after that. In order to avoid slippage on the exit, I let it go when it appeared to be carving out a lower high.
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