Thursday, February 03, 2011

Momentum Day Trades - APKT, TUP, WFR, BRCM CCK

TUP - continuation from yesterday's big move.

APKT - Momo earnings gap

CCK - Failed bull flag BO.

WFR - Handle and extension

BRCM was a low risk short. I was looking for an extension to daily support at $42.00. Price formed a long handle at the base of weekly S2 and head faked lower. I covered the short and took it long into the close. Shorts were squeezed when price broke back above $43.00.


2 comments:

A said...

Jamie,

In the WFR trade, would an entry above 13th bar high okay? Logic being - price consolidating with support from rising 5 ema and the 13th bar is off 5 ema, closing strong.

Jamie said...

A

Yes, once the support base has provided sufficient proof that it is holding, you can long a bullish stick instead of waiting for the upper base to BO.