Tuesday, July 14, 2009

A Couple of Trades

Lots of charts formed C&H patterns yesterday, but gapped up too high today and ruined the setup. APOL gapped, but eventually formed a narrow range base, from which to get long.

It came within 20 cents of the 50% FE and then formed a shooting star on the lower timeframe, so I exit and shorted into the close.

POT is still weak after last week's drubbing. I'm looking for a base to form in the area where it capitulated on Friday - blue horizontal line. In early trade, POT made a move towards the base, but failed, so I shorted it.

4 comments:

tick said...

Very nice trades what trading system are you using here. I have a new stock trading website and I would love to implement some of your trading style in a screener or backtester.


Cheers Tickmarkt

QQQBall said...

Sweet trade on APOL, way to flip it over & take it short.

Jamie said...

Tick,

The system is just eyeballing my usual suspects for low risk entries.

Jamie said...

Thanks QQQBall,

Yeah, I love those late day reversals when I can spot them in time.