I think the chart speaks for itself. Initially, I thought this was a bearish base with a perfect NRIB in the lower shadow of the outside bar (red on red). Obviously, it grew into much more than that. The h-pattern is awesome. I took a partial at When I realized that the entire sector was in a race to the bottom, I ignored the fib. lines and waited for a bona fide reversal pattern. Price never closed above the downsloping 5 period EMA and never printed a red bar after consolidating
This was the best trade of the day, but I want to follow-up on ABX and FSLR if I have time later tonight.
8 comments:
Nice hold!
Thanks 504
Beautiful Jamie!!!
I am curious to see how you played ABX because I "almost" made it ;-)
(you'll see at my blog why I say that)
Congrats!
Nice on amgn. News for healcare reform sent kicked them all downstairs. I could kick myself for not taking action on that premkt news, esp as have a healthcare WL
Thanks Anarco,
I think I added to my position at the same spot that you entered long. It looks like ABX is building a base for a bigger move higher.
Thanks BL,
So much market moving news with Obama in front of the camera on a daily basis.
Nice trade. Gotta love those type of moves. We get a break in the market, we could be seeing more... and then, hopefully a huge bounce that will be even juicier.
-DT
Thanks DT,
Yeah, feels like we have a ways to go before we hit bottom. Hopefully, by April things will start to bounce.
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