The first chart is a daily view of CELG. As you can see CELG has been weak since the tail end of May. Tuesday it carved out a hanging man which was confirmed yesterday. I noticed in the pre-market that it was gapping down and trading below its 50 DMA, so it was top of my shorting watch list.The chart below shows my entry and exits. I took a low risk dummy short on a break of the second bar low with a stop above the ORH. I locked in some profit after a 1 pt. gain and covered the balance into the close.
AMLN set up another dummy short today. Again, I locked in some profit after a dollar move as this stock has weak. This time I was stopped out on the balance.
Today was a very good day for shorting, but I did manage to get another long entry on CROX this morning.
8 comments:
Nice trades Jamie!
Jamie,
Have to hand it to you.. how can anyone go long anything on a day like this :)
AJ.
Thanks guys, it was a good day. Hope it was for you as well!
Thanks for sharing those trades. Nice!
Great trades as usual. I was also stalking CROX for a long entry this morning b/c of the high premarket volume and gap up but just missed the entry.
Jamie,
When you compile your list of potential stocks to trade, How do you go about doing it? Do you create a big list on before the week and then focus on candidates? or do you do it daily?
Also other than the 20 & 50 MAs. Do you add filters that looks for stocks that are x.xx% points above or below the EMA?
Thanks,
LP
LP, In order to properly respond to your questions I'll do a post over the weekend.
Zoomie, Happy Birthday!
Bubs, CROX is amazing, it just keeps on giving.
Thank you Jamie, I hope to return a pointer or two one day. Thanks for the free education.
Post a Comment