Tuesday, January 09, 2007

Day Trade: Short RIMM 30-min chart

  • The stock is active with strong downward momentum on an increased volume. Daily chart is also showing bearish candlestick pattern and AAPL macworld negative effect on this stock
  • Short entry at $140.70 on the break of the low of the 3rd candlestick which is also a hanging man candle.
  • Initial stop at $142.15 which is the high of the tail of the 3rd candlestick
  • Cover 300 shares at $130.77 before the close
  • Trade closed with a gain of $2979 ( +7R )

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