Wednesday, November 10, 2010


I discussed RIMM back on October 27th. And HCPG also had RIMM on their focus list. So hope everyone was still watching this one today.

RIMM reached the 1.27% fib. extension of the initial impulse move - point A to point B on the daily. If RIMM can hold the upper blue line as support, I will get back in. Next target is round $ number $60.00, followed by 62% FE (Fib. extension).

As we can see from the 15 minute chart below, RIMM was strong right out of the gate and consolidated the initial thrust in a constructive manner. Took a partial at the 62% FE and exit balance on weakness.

BIIB was flagging as discussed this weekend. Entered long on an inside bar on the 15 min. Next target is the 27% FE on the daily.

OTEX and CRM were the best NR7 trades from last night's scan. Missed CRM, but took a small position in OTEX. This stock is not very liquid, so that's why I size it accordingly.

LVS was a continuation short as discussed in the weekend post.

I placed my Fibs from pt A to B (last impulse lower), thinking it would want to fill the gap. But it didn't even try as sellers were in control. Gap is now resistance.


Danny said...

is there a way to follow your trades live

Jim said...


You have made some great calls of late. Very nice work!

M said...

Weren't you concerned about the EMA acting as resistance in the OTEX trade?

Jim said...


If I may, one of the nice things about trading range expansion (following range contraction, like NR7) is that the RE will often blow right through typical S/R levels. Jamie entered on the BO of an intraday base. The key level to watch was the previous day's high which was resistance in early trade (ORH). Once that level was taken out (easily following the B&B), the probabilities favor a trend day in the BO direction. Hope that helps.

M said...

Thanks Jim. Appreciate it.

Jamie said...


The best advice I can give if you are following my focus list is to review the charts every night and then try and check the intraday charts every 5 to 15 minutes during the trading day depending on your time frame.

It's impossible to call out live trades without jeopardizing my own trades and trade management especially when there are numerous triggers like today.

Jamie said...

Thanks Jim

Hope you have been capitalizing on these too!

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