Tuesday, August 22, 2006

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

RIMM followed the market and opened strong despite relatively average volume. The first bar was a wide range bullish bar. I waited until the second bar showed some green, confirming continuation before stepping in. My target was a retest of last Thursday's highs. The target was reached in late morning and I sold my entire position into strength as price approached $89.00.

From last night's watch list - PAYX didn't trigger a long. I took a long position in RBAK at $18.20 in the late morning but it stalled at $18.50 resulting in a scratch.

2 comments:

Glenn said...

Nice trading Jamie and nice to read more about you in your interview.

Jamie said...

Thanks Glenn!