Monday, September 18, 2006

Watch List - CKFR, FFIV


CKFR broke its trendline on the 60 minute timeframe and setup a very orderly short trade today. From the daily view you can see that it is poised to retest its breakout point on this leg down. It should bounce off of the 50 MA on the 60 minute timeframe tomorrow. Ideally, we want to short CKFR if it makes a tradable lower high. The target is $38.00.


FFIV was a great short as it fell through its trendline on the 60 minute timeframe. It now looks poised to bounce back for a retest of the break. If it bounces in the early going tomorrow, look for a low risk shorting opportunity just below the trendline. The preliminary target is $48.00.

I read on one of Trader Mike's feeds that watch lists are funny. Try not to kill yourself laughing! ;)


Richard said...

Laughing? Laughing all the way to the bank! Now that I know that watchlists are meaningless, I will be going with random entry from now on. I wouldn't expect you to understand that, though, since you are obviously just trying to sound like a guru!


(before someone sends me hate mail... if you read that ridiculous article, you'd understand it's a joke)

Jamie said...

LOL, the guru part had me in stitches too.