Tuesday, August 08, 2006

Trade of the Day - Research In Motion NASDAQ (RIMM)

As per last night's watch list, I took a long position in RIMM as a continuation play following yesterday's late day trendline retest. I waited for the third bar to trade above the reversal bar's close before entering the trade. A modest gain.

I also entered a long in NVDA on a break of the first 15 min. high. After gapping up on the open, I was hoping for a retest of $25.00, but it never got past $24.85. Another modest gainer.

2 comments:

monkeydust said...

NVDA was trading at 24.95 in AH today. Hopefully we'll be hitting 25.00 early tomorrow.

Somebody's really expecting some spectacular numbers out of them based on the movement that stock has seen recently.

Jamie said...

The third test of resistance is usually the one that breaks out. I'll be watching on the open. :)