Wednesday, October 04, 2006

Trade of the Day - NVIDIA Corporation (NASDAQ: NVDA)

I noticed that NVDA was moving up on good volume off of the open. As soon as I saw a little continuation after the gap fill, I entered long. My stop was 10 cents below the breakout point (lower blue line). I locked in 50% as it consolidated its early gains. I rentered my full share size midday on a low risk entry and the support of the rising 10 period MA just below. I exited my position into the close. Sweet!

DRIV was a technical setup (bullish flag as outlined last night) which I entered on a buy stop order. Here is an example where I had to leave my stop at break-even because of a lengthy and deep pullback mid-day. I eventually got frustrated and exited 50% of the position after just $0.40. My target was finally reached near the end of the session. Exit into the close.

No comments: