JASO was a failed BO trade on Thursday when the market went into free fall mode. Yesterday, it set up a B&B long just below the failed BO line from the day before. I took the entry expecting some resistance just above, but it sailed right through, successfully retested, and bounced forward. I took a partial at $50.00 and expected to exit the balance at R2 (red line), but it was off by more than 20 cents before pulling back quickly so I missed the ideal exit.
NIHD set up a B&B short yesterday afternoon. The BO bar was
WR and closed near its lows. This is usually a very good sign, however, price pivoted on P (black line) shaking out the BO bar so I had to scratch the trade. My original target was a gap fill. I suppose I could have taken a partial at P but the fact that it had closed near the low plus the volume increase, led me to believe there was more downside to come and that the target could easily be reached.
JASO was a failed BO trade on Thursday when the market went into free fall mode. Yesterday, it set up a B&B long just below the failed BO line from the day before. I took the entry expecting some resistance just above, but it sailed right through, successfully retested, and bounced forward. I took a partial at $50.00 and expected to exit the balance at R2 (red line), but it was off by more than 20 cents before pulling back quickly so I missed the ideal exit.
NIHD set up a B&B short yesterday afternoon. The BO bar was WR and closed near its lows. This is usually a very good sign, however, price pivoted on P (black line) shaking out the BO bar so I had to scratch the trade. My original target was a gap fill. I suppose I could have taken a partial at P but the fact that it had closed near the low plus the volume increase, led me to believe there was more downside to come and that the target could easily be reached.
5 comments:
Had a nice trade on AMGN (4th bar entry), but then got chopped up for the rest of the day. First loser day in a while - - these trend-free Fridays can be rough.
Jamie,
Traded JASO likewise, same b/o but but way soon exit. I need to look at that. Nice work. Have been thinking a new scan to catch those at the open small gap momo's like: giga mblx urre cr. 1-5% gap 30k >$3. Thoughts. Also TI has a greatest %volatility list
Ferde,
Congrats on the AMGN trade. Got a late start and didn't get much trading done. Early move off the open and then mostly sideways action until last half hour. Easy to get chopped up. Noticed a nice trade on COGN. Stock gapped wide a few days back, followed by 2 inside and now moving up on good volume. Adding that one to the WL as I'm sure it will setup more trades in the weeks to come.
BL,
I have an intraday scan that captures the NASDAQ names you mentioned plus IFON and a few others. You can change to get CR as well, but I only scan NASDAQ.
Intrday price and volume incr.
• For the last intraday update:
• NASDAQ Stocks with...
• 50-day Simple Moving Average of Volume for today is greater than 100,000
• 50-day Simple Moving Average of Close for today is greater than 1
• Daily Volume for today is greater than Daily Volume for yesterday times 1.2
• Daily Close for today is greater than Daily Close for yesterday times 1.1
Close is the price at the time that I run the scan.
Also noticed that those names showed up on my Esignal leaders list.
This scan captures stocks that gap or not. Picked up big move in GROW on Wed. - no gap
It was developed to pick up stocks that were asleep and suddenly perk up and make huge moves. Something we are seeing a lot of lately.
TI Volatility is very restrictive. If I set it at 1% and run it on the watch list for Friday, I only get about 6-7 stocks showing up. JASO is one of them. But does not pick up COGN, AMGN and BIIB.
Jamie,
Thanks for the input. I'll see what works this week.
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