Wednesday, January 17, 2007

Day Trade: Short FMCN 30-min chart

Entry @ $76.78 / 700
*** update 9:56pm***

  • The stock printed a WIDE RANGE cstick with above average volume during the first 30-min of the market session. A classic momentum setup
  • Short entry at $76.78 on the break of the low of the 3rd cstick
  • Initial stop at $77.45 which is above the tail of the 3rd cstick
  • Covered 700 shares at $75.83 at the last cstick when it started to break above the resistance
  • Trade closed with a gain of $665 ( +1.4R )


Anonymous said...

Hello, do you have a set of stocks you follow each day? Great trading!!

mc said...

I tend to follow leading growth, high beta stocks. I like to trade stocks with an average daily range of atleast $1.00 to give me more room work with. I also run real-time scan after the market open to look for active stocks and tend to trade on the direction of the move