Tuesday, November 17, 2009

Day Trades - Potash Corp./Saskatchewan (USA) (Public, NYSE:POT)

Yesterday in the comments to the prior AMZN post, I mentioned a handful of stocks on my focus list. POT was on the list. It was also a long pick in the HCPG newsletter last night. Hope you guys caught this one today.

On the daily we see 2 NRIBs at the base $105.00. Today it was a runner.

The AMZN trade below is from yesterday. Early strength did not extend after the retest of the base. Eventually, it carved out a 3 PP base with NR7 trigger bar for a gap fill. AMZN was downgraded today and traded lock step with the retail sector XRT - leading the laggards on weak retail sales data.

6 comments:

Highchartpatterns said...

Kind of cool we look at different things and yet come to the same conclusion -- buy 105 break!

As always, nice trading Jamie.

HCPG.

Jamie said...

Thanks and congrats guys!

B&B - great bread and butter setup I learned from you.

Jim said...

Jamie,

Beautiful daily setup in POT. Again and again, the best intraday trades come from great setups on the daily chart.

Jamie said...

Thanks Jim,

Agree. That's the modus operandi of the HCPG newsletter. All the picks come from the daily timeframe.

Jim said...

I need to checkout HCPG as it would likely reduce my prep time. Do you follow/use HCPG regularly?

Jamie said...

Jim,

Yes, I follow HCPG regularly. Take the free trial. You can add to your WL and/or confirm your own picks.