Sunday, April 20, 2008

Dummy Trade of the Day - Amazon.com, Inc. (Public, NASDAQ:AMZN)

AMZN, from the WL got a nice boost from GOOG earnings. The lengthy base that formed at $79.00 acted as support during the afternoon retracement and offered a low risk, tweezer bottom reversal for a late day pop.

ALTR, a gapper I traded on Thursday, gapped up and retraced back to Thurs. afternoon resistance (former resistance acts as support) which held as support for a second trade.

GRMN, from my focus list gapped up, retraced to Thursday afternoon resistance, which now acted as support. A perfect IB hammer set up a long entry. I got stopped out prematurely as this one was a short covering rally.


ESRX, from the focus list also found support near previous day high, and set up a low risk entry at my number $68.00. Was hoping it would set up a C&H later in the session, but R2 held as resistance,

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