Sunday, December 20, 2009

Stock Picks

FLR $44.00 should be good to go long. Tuesday's WRB had high volume. Price is consolidating the move in the upper range (3 NRBs - price contraction before expansion). Looking for another WRB on the break.

POT closed on support Friday, but I expect it might go lower before it retraces ( closed on lows with big volume). Hoping for a hammer reversal bar tomorrow, followed by a retracement to the ambush zone.

4 comments:

Day Tradr said...

Jamie:

How do you treat the 5 day EMA on the 15 min. chart?

Joe said...

Jamie - Would you have considered POT's action today (Tues) a potential ambush trade?

Joe

Jamie said...

Joe,

Yes, not only a potential ambush, a perfect ambush with a hammer reversal bar in the ambush zone as the trigger.

Jamie said...

Day Tradr,

5 day or 130 period MA on 15 min. timeframe is a good indicator of trend.