ATHN gapped up on earnings and carved out an inverted hammer. The next two bars were inside on declining volume. The second inside bar was a bullish green hammer so I took a dummy long above the second bar high. The BO bar closed above the ORH. After that we consolidated below and above R2 before momentum finally kicked in. I took a partial at the 50% Fibonacci extension of the previous day low to the ORH and closed at 75% ( mismanaged the last exit - should have been faster on that WRB).ATHN is a recent IPO. As you can see from the daily chart below, it tested its all time swing high today. If it breaks out of this base, I think we could see more volume come into the stock. I'm adding it my WL.
16 comments:
Most gappers (even mid 30s stocks)I followed this week have crazy speard. Suddenly just from 1 cent to 15 cents+ a second later.
Is it in your case today?
I read on elitetrader that a guy lost 52k cos IB resubmitted his reject order (future).
But some stock trader have order appeared in their that they didn't place. has it ever happend to you since you joined?
Jerry,
It did happen to me about a month ago and I too lost money. IB has since implemented new security codes. Did this happen in the last two weeks or before the new security?
Oh no, what did you do when you find out? Did they credit you?
It was 6 weeks ago. http://www.elitetrader.com/vb/showthread.php?s=ddad3ecbc5f504c44f39e1a433dc35fc&threadid=107347
Even with security codes, Traders said they still get trades that they didn't enter. IB said it was send from their pc with security codes. And won't do jack about it.
Imagine you haven't trade
for sometime and login to find out all you money is gone?
I have a small IB account, but it scared me to death and perhaps still happening as we speak.
I've had a variety of troubles with IB. Most recently I went long a low-priced stock on a day when it skyrocketed upwards. But at the end of the day I didn't see the profit in my acct. Bottom line: Even though the IB trading screen showed the long shares on my trading screen, IB said the order did not go through and that I was SOL.
One thing that is consistent about my troubles with IB is that they never take any responsibility for their eff-ups. Their customer service reps in such instances are similar in comportment to New Jersey trash haulers.
Hey guys,
I didn't want to be the first to trash IB, but it seems that the problems are really serious. If they don't react quickly to protect client capital, they will be in serious trouble.
I started downsizing my account with them a while back because of the Canadian dollar. But recent events including the one above and other problems reconciling my account have kept me from trading more than one transaction at a time with them.
But Canadian brokers kill me with their high commissions and currency conversion rates. So I'm just not trading as much these days. Hope IB can take things in hand and resolve these issues quickly rather than blaming the traders, otherwise they'll be out of business.
Ferde: I am sure they won't hesitate to take your money if it was a lost trade.
Jamie: I guess they didn't credit you then. Since you trade so much, have you looked at other choices? Rmltrading offer me $2.50 per trade and Just2trade also the same price.
Well, I joined IB cause they offer huge list of stocks to short. But not with so much problems and worries attached to it. Just 2 weeks ago, I was rejected for a security device becuase my account was too small. Bad business.
Jerry,
Nothing compares to IB. When it's working properly, it's the best. No they certainly did not credit my account.
I hate fixed commissions and the cheapest I can find in Canada is $4.95 per transaction. Every broker here forces you to trade with a fee based platform. At the end of the month, for example, if you haven't logged in 500 trades they charge you $200.00. One broker here charges $125.00 per withdrawal - Ouch!
IB doesn't have all those extra strings attached to their platform. That's why I hope they can get back on track.
I agreed. I rather deal with a worldwide company.
Hi Jamie,
I'm using IB and thinkorswim (TOS). TOS is liked by options traders because of its platform features, but it can also do stock, fx and futures trading. Much better customer service than IB and I think the rates are still reasonable. Not sure if it is available in Canada though...
Hi Jamie!
Please find attached the link the SIRF trade last week, with some analyse.
The question is regarding Fib. attachment, I was confused whether to put start point on the low of the current day or on the low value of the day before.
Please advise :)
http://i188.photobucket.com/albums/z60/kogi2k/snap204.jpg
thanx,
Kogi.
SOT,
Thanks for the info on TOS. I'll check it out.
Kogi,
The SIRF trade on Thursday is a continuation play from Wednesday's gap up. The Fib extension would be the same as Wednesday ie no change because on Wednesday it did not extend fully - 38%. On Thursday, the 14:45 bar came within pennies of the 38% Fib. extension from Tuesday's low to Wednesday ORH, and then it retraced in the last hour.
Jamie,
In light of the issues with IB, are you still trading full-time?
Hey Jim,
The real issue for me, was and still is, the USD. It was relatively stable throughout the summer but since Sept. our dollar has gained 13 cents on yours.
The IB issues, of course, are far worse than I was aware. But I'm not sure if the IB issues are strictly limited to IB because my Canadian broker is also implementing higher security measures.
But to answer your question, I am trading less and I have taken on some outside contracts in the interim.
Jamie,
I waited for TLEO to break 8/30" with a stop limit to buy at 32.15. It never took as it sold off to 29.6. Maybe buy stop limits work esp with higher priced stocks. UTHR 116.15 or higher would have worked out well Thrs 2:22 magic hour. Thoughts on stop limits to buy?
Thanks
BL,
Buy stop limit if stock has a wider spread. I use mainly buy stop on B&B setups.
Post a Comment