PRGO is a WL stock as well as a Briefing.com gapper and was quite active in pre-market trade. After an early swoon, it retraced back up to early support which now turned into resistance. It carved out a tweezer top at this level, and I shorted as price took out the previous bar low. Took a partial as price retested the morning swing low and covered the balance just above the 50% Fib. extension of the previous day high to the ORL.
Tuesday, May 06, 2008
Gapper Dummy Trade of the Day - Perrigo Company (Public NASDAQ:PRGO)
PRGO is a WL stock as well as a Briefing.com gapper and was quite active in pre-market trade. After an early swoon, it retraced back up to early support which now turned into resistance. It carved out a tweezer top at this level, and I shorted as price took out the previous bar low. Took a partial as price retested the morning swing low and covered the balance just above the 50% Fib. extension of the previous day high to the ORL.
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4 comments:
Nice trade Jamie in this "bullish" market !
Thanks Fred,
PRGO was an earnings gap and they tend to ignore market sentiment.
Do you use the TRIN and TICK?
No, too many things to look at means less trades
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