Wednesday, January 17, 2007

Trade of the Day - IntercontinentalExchange, Inc. (Public, NYSE:ICE)

Only one trade for me today as I was very busy at work. ICE was not a great setup, but it did generate a profit despite the low risk: reward ratio. I was hoping for a late day rally but it never got off the ground because the market tuned very bearish in the afternoon.

Jim wrote to me about GROW yesterday and I told him that I was no longer bullish on GROW because of the bearish pennant formation on the daily timeframe and advised him to sell. Hope he was able to get out on the open. A bear's dream setup came midday. I didn't get in on this one but it was sweet for those who did.


6 comments:

Bubs said...

Tried to short grow to but there were none available on tradestation. It was a perfect setup.

Jamie said...

That's one of the reasons I'm not big on shorting. You can be watching a pattern develop for hours and then when its time to trade, there are no shares available.

Jose V. said...

Same for me with IB

Jamie said...

Thanks Jose, I guess that shouldn't feel bad about missing the trade because I'm also with IB.

downtowntrader said...

None on Cybertrader either.

DT

Jamie said...

Thanks DT.