Thursday, August 21, 2008

Dummy Gapper Trade - salesforce.com, inc. (Public, NYSE:CRM)

CRM was a gapper narrow range B&B, but after taking a partial I was stopped out as detailed on the 1 minute chart below. CRM went back to retest the base and immediately reversed so I got back in. The full Fib. extension from the previous day high to the ORL was reached EOD.


FMCN, was B&B daily long as per HCPG trading list. I guess I wasn't watching this one closely enough, because by the time I got back to it , my profit had all but disappeared after the tweezer top reversal and I closed the position. Waited so long for this break and was very disappointed that it couldn't do better, but that's the way it goes.

RIMM - missed the early move off of the trend line, but caught the second half as price lifted from the retest of former resistance.

6 comments:

Anonymous said...

Jamie,

Nice job of milking RIMM. I had meetings all day and could not participate.

Jamie said...

Thanks Jim,

Yeah, meetings get in the way of trading. For the most part, you didn't miss much. Another chop fest.

TraderLK said...

Jamie:

Thank you for sharing the 1 minute details, that helps.....

Lawrence

Jamie said...

Welcome Lawrence,

One observation is that whenever I get stopped out, if I get back in, it's always around the same price as the stop.

bl said...

Nice coals push after 3 premkt upgrades, and solars rally, golds. Some nice premkt and first 5 min gaps:dks sglp ssri ltd mea

Am I Bald? said...

Jamie,

Great trade in RIMM. I missed the first thrust up, but considered entering after the second consolidation into the 5 EMA for a quick trade. LTD was breaking out at the same time and I chose to trade that instead. That was a mistake, the breakout was on terrible volume and did not do what I wanted.

Now, looking at both charts, RIMM looks a lot better. I suppose I will see this in time and make the right decisions.

Thanks for posting your trades.

Tyler