FLML. If this continues below Friday's low, I will look to re-short as it gets into this gap and remains and I would expect an initial target around 23 or as much as 22.5.
This is a bitch to trade, lots of scalpers and traders surround it, smacking it to and fro. It requires patience, and offers numerous intraday pullbacks. But it is painting a nice daily pattern, the ascending triangle and it is in sort of a sub-consolidation at the upper end. If it can get over 7.25 on good volume, I would go long.
I love this stock when it gets moving. It looks like a C&H developing, both price form and volume, which I have highlighted. It needs to move up to the 45 area to complete the cup pattern, and the last two days look like pullback days so I am watching it this week for a continuation. Initially, on Monday,I would go long a modest position over 40, if this happens.
This is a great vehicle, and it has had good volatility due to earnings the last few days. Revenues were blowout (but their margins suck). THe gap up and selloff is a cause for caution but it did recver somewhat and closed in the black. If the prior patterns reiterate, 32 should be possible this week. I would look for a long entry over 29.25, which is above the previous high and above the open of Friday. Friday's high of 30 would be a more conservative entry.
CEDC and POOL are pulling back and will likely offer good opportunities. RIMM is getting ready for a move. PRX is still within its triangle pattern. Others will setup and I will post results of any entries I take on the aforementioned and will post new charts again here Wednesday.
This is in a nice tight pennant-triangle pattern after a high volume thrust up. It is staying aloft on declining volume. Long over 16.25 with an increase in volume.
I only enter longs if they meet price target and have the volume character I am looking for AND they trade through the price trigger. If they gap over, then I wait and see how they trade and make a decision.
dgabriel, I thought using some kind of a Volume-per-unit of time gaugage intraday on the breakout day, kind of Jack-erese style, might actually be a good idea?
Could be a good idea, but a big block trade could skew it. I like to eyeball it, and look at time and sales to get a sense of strength - or lack thereof.
Today's trades worked well. First PUMA. Entered at 7.31. Stock gapped up over my buy point so I waited for it to sell down a bit then took an entry. Stock closed at 7.51. Unless I indicate that I closed the position, it's open by default. CELL, I did not enter. It hit the trigger price 29.25, but did not trade through, which is a requirement.