Wednesday, December 10, 2008


Perfect setup - FWLT (from my WL) formed a bull flag at base of R-zone.

I have personal business to attend so I may not have time to update blog tonight.


Tyler said...


Nice trade! I traded FWLT as well, but exited the full position at the PDH. I should have paid closer attention to the action at that level. Thanks for posting.


Anonymous said...


Can you pls. take a look at today's (Dec. 11)AMLN 15 min. chart. It reached 100% extension and reversed from there. It formed a bearish candle at the 100% extn. on the 15 min. chart. Was there any reversal trade opportunity here?

I did not take the trade. Just trying to learn some reversal setups based on 15 min.


Jamie said...


The trade in AMLN today is on the long side. This is a story stock and the story is powerful. A drug that was all but dead has been given new life. I wouldn't bet against that even with a shooting star at the daily pivot high. So many times I see these types of reversals set up only to form a minor retracement followed by new highs in the afternoon.

Keep watching it for a possible long this afternoon.

Anonymous said...

Hey Jamie,

Thanks. I normally like to play with trend but have recently tried to look into reversal setups. I have realized that reversals are risky setups and it's very risky to jump at the first sign. Wait for a bear flag formation, lower highs and other confirmations before jumping into it. Also, it better for me to paper trade first and see how it goes.