ACI set up a low risk short when it paused at yesterday's late day lows, but I missed it. After bottoming at S2, it carved out a 3 pivot point base for a nice long entry. Once it took out the down sloping 20 EMA, I had a good feeling that it would retrace all the way back to yesterday's lows. Now it looks like it wants to be a cup & handle long. Keep it on the focus list for tomorrow.
Financials were so overbought so I took a chance on LEH. There was a trend line breach and I'd like to see it retest the trend line or 50 SMA tomorrow and set up another short. I'm targeting $17.00. LEH has pivots at every dollar level which makes it easier to time entries and exits.
ACI set up a low risk short when it paused at yesterday's late day lows, but I missed it. After bottoming at S2, it carved out a 3 pivot point base for a nice long entry. Once it took out the down sloping 20 EMA, I had a good feeling that it would retrace all the way back to yesterday's lows. Now it looks like it wants to be a cup & handle long. Keep it on the focus list for tomorrow.
Financials were so overbought so I took a chance on LEH. There was a trend line breach and I'd like to see it retest the trend line or 50 SMA tomorrow and set up another short. I'm targeting $17.00. LEH has pivots at every dollar level which makes it easier to time entries and exits.
2 comments:
Hi Jamie,
I've been following your blog for about a month now ... and I really like your trading style. Good Trading! My compliments ;-)
Yet one question arises ... do you scan for your stocks or do you have a set list of stocks you follow everyday?
Thanks man!
Timo
Thanks Timo,
I have a watch list and most of my trades come from there. However, I do scan both my WL and the market for NR7 and range breakouts. I also check for high volume gappers in pre-market. Without the Trade-Ideas scanner, I'm sure I would miss some good trades from the WL because I can't absorb all of the action at any one time. So the scanner is very helpful.
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