5 Minute Inside Bar - QUALCOMM, Inc. (Public, NASDAQ:QCOM)
I'm replacing SIGM with QCOM in the WL. 5 minute IB (I like it when it's inside the shadow of the previous bar). Long break of outside bar resulted in a vertical move up to daily resistance at $44.00.
12 comments:
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I caught a good piece of the after lunch move up in SOHU - top of my WL sorted as %change. It tuned quickly at the top which was characteristic of the morning action.
I am starting to look for and find some intraday tweezer and double bottoms on pullbacks. DRYS in the afternoon at 86.50 was good for a 30-40 min pop. The second bottom lined up with the 15min 20ema and a PP from earlier.
Good eye. DRYS tweezer bottom was followed by a tweezer top 15 min. 3:00 at $87.80 for a nice sell-off into the close. Also TT at 1:30 $88.00. Lots of intraday moves off of this candlestick reversal pattern. But a choppy session. Gotta have the stomach for it.
I didn't trade DRYS, but I did short the Emini (ESM8) futures into the close.
I did not know that you were trading futures. What are your plans? ... stay dual mode (stocks and futures) or eventually make the leap to only futures.
TRMB downgraded by a third rate firm today, probably got caught with their pants down on the earnings gap. Still think this one will move higher if markets don't roll over.
Just started trading futures last week. Still prefer stocks. Been lucky with futures so far. No plans just yet.
Jamie, There are many setups like QCOM with just 1 inside bar on 5 min chart. What is so special or what made you confident of taking this trade? Was there something you see in the daily as well?
Yes, QCOM is approaching 3 mth highs on the daily. Plus as mentioned previously, it's getting a boost from favorable earnings.
Agreed,there are lots 5 min. IBs, but I like it when the bodies don't overlap. In this trade the entire body of the NRIB forms in the upper shadow of the previous bar. Also, little or no shadow on IB. Seems much more bullish than the average IB.
12 comments:
Should have known it was some sort of spam when they could not even form an English sentence.
Anyway, Jamie, what prompted you to look at this stock in the first place?
Traded QCOM on Thursday, following earnings.
Hey Jamie,
Thanks for the WL update notes (re: TRMB, QCOM).
I caught a good piece of the after lunch move up in SOHU - top of my WL sorted as %change. It tuned quickly at the top which was characteristic of the morning action.
I am starting to look for and find some intraday tweezer and double bottoms on pullbacks. DRYS in the afternoon at 86.50 was good for a 30-40 min pop. The second bottom lined up with the 15min 20ema and a PP from earlier.
Hey Jim,
Good eye. DRYS tweezer bottom was followed by a tweezer top 15 min. 3:00 at $87.80 for a nice sell-off into the close. Also TT at 1:30 $88.00. Lots of intraday moves off of this candlestick reversal pattern. But a choppy session. Gotta have the stomach for it.
I didn't trade DRYS, but I did short the Emini (ESM8) futures into the close.
Jamie,
I did not know that you were trading futures. What are your plans? ... stay dual mode (stocks and futures) or eventually make the leap to only futures.
Jim,
CY 2 IBs on daily.
TRMB downgraded by a third rate firm today, probably got caught with their pants down on the earnings gap. Still think this one will move higher if markets don't roll over.
Just started trading futures last week. Still prefer stocks. Been lucky with futures so far. No plans just yet.
Thanks Jamie.
Also FSLR 2 IBs on daily. FWLT and JASO almost.
Thanks Jim,
Yeah, forgot to mention FSLR. Almost - ABX as well
MOLX 3 IBs
Jamie,
There are many setups like QCOM with just 1 inside bar on 5 min chart. What is so special or what made you confident of taking this trade? Was there something you see in the daily as well?
Anon,
Yes, QCOM is approaching 3 mth highs on the daily. Plus as mentioned previously, it's getting a boost from favorable earnings.
Agreed,there are lots 5 min. IBs, but I like it when the bodies don't overlap. In this trade the entire body of the NRIB forms in the upper shadow of the previous bar. Also, little or no shadow on IB. Seems much more bullish than the average IB.
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