Thanks thin', it sure did. Your chart brings up a trading point that I have never felt comfortable with, that being when the opening occurs outside the pattern. If anything, I would enter when (if) the price moves back thru yesterday's low in this case. I have never developed a good feel for trading in the same direction as a gap.
MRK monthly chart. Before you scoff and blow it off b/c of the time frame - check out the pattern, and the range so far this month. If you believe that the daily Bollis forecast expansion when they are tight, then a nice profit opportunity awaits.
SMH finished in NR4....should be a nice, volatile day tomorrow NR7's for AMZN, BRCM, RIMM, RMBS....etc etc should be interesting day
inandlong, Don't you use any Toby Crabel's price pattern as bias setting? I mean, such as +++, ---, ....
If BRCM remains within today's range, it will be an NR4ID for Monday. Given the large upside gap several trading days ago, a break of today's low might prove interesting.
Great thread. My cup of tea. SMH just shows a snap back so far. The pattern says more downside unless that right shoulder resistance is taken out. http://charts.dacharts.com/2005-08-15/smh 60 min.gif
MON, SPG, TGT, TXT, YELL all have good daily vol for trading, all are at least NR4ID's. There are many others of course, but these have "good" daily range / average daily range ratios. Good for me means today's daily range was <= 40% of the ADR20. I use ADR instead of ATR. The two are usually pretty close anyway.