Monday, December 08, 2008

Gap / Fibonacci - Joy Global Inc. (Public, NASDAQ:JOYG)

JOYG, from the watch list, gapped up and formed a bull flag at base of ORH. Place fibs. from previous day low to ORH. Took a partial as price approached 50% extension. When that candle completed, it carved out a bearish shooting star so I waited for confirmation and exit the balance.

Reference: Trader-X guideline #2


bl said...

Nice trade Mr J. 55% of my Reit stocks WL were up over 10%(24/44), Fin 12%(19/159) Commodity 30%.

Jamie said...

Thanks BL,

Yeah, feels good to be trading long again after all that selling.