Tuesday, September 02, 2008

Watch List Trades - Energy Conversion Devices, Inc. (Public, NASDAQ:ENER)

ENER set up a perfect bear flag on weaker oil this morning. I took a partial as price started to retrace and covered the balance as price approached the round $ number $70.


AAPL is a trade from Friday. I had previously mentioned AAPL as a focus list stock at the intraday pivot point $172.00 as significant. Hope you guys had your alerts on. It set up perfectly and my alert warned me that price was in play. I missed the big move today because of a power failure. The power went off some time between 1:15 and 1:30. By the time it came back on and I was up and running again it was almost 2:30 EST and the big moves were in, so I called it a day.

FLS - I've been trading this one daily for a week or so.


CNQ - another oil play, had nice volume on the BO bar, but no follow through.

Gap Scan Trades - DELL and PETM on Friday were both more or less scratches. LOW was released as a buy stop at $26.64 just as power failure occurred. Happily, price never triggered as markets headed south.

5 comments:

Am I Bald? said...

Jamie,

Thanks for another day of great charts. Your setups, entries and exits are always perfect. I have those exact same stocks (AAPL, CNQ, FLS, etc.) on my watchlist, but just cannot catch the moves like you do.

Your charts have definitely been helping my trading.

Thanks,
Tyler

Rick said...

I made that AAPL trade on Friday as well--nice inverted C&H and I remembered your mention of the 172 level. Today my instinct was to short AAPL as it broke 170, but there was no real setup there so I skipped it.

Jamie said...

Thanks Tyler,

One way to find suitable setups on the WL stocks is a straight TI NR7 scan. ENER was the only WL stock to print NR7 at 10:15 so very easy to spot. FLS printed to NR7s back to back at the entry point.

Jamie said...

Rick,

Nice. Happy to hear you caught AAPL $172.00. Today's action (AAPL and the markets) was tricky, given that prices fell through Friday's support levels without pause.

sony said...
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