Wednesday, July 05, 2006

Trade of the Day - (PEIX) and (QQQQ)

As per last night's watch list, I was looking for PEIX to fill its Monday morning gap before geting long. However, it stopped in the same support area as Monday and started bouncing, so I bought it at the same price as I did Monday and made the same money all over again.

I shorted the Q's in pre-market because everything was very negative going into the session and I didn't want to chase once the regular session got underway. I covered at the obvious support level for a $0.60 gain.

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