Interesting you should post that article. Price on FMD shot through the roof in after hours trading. I couldn't pass up such a gift, so I sold 200 shares at the $46.15 USD price point (and banking $560 USD). While still holding 200 shares, price has already breached $47.00 USD as I typed this post. Say it with me now, Tomorrow's Newspaper, Today. - Spydertrader
Nice trade; I made some money on it during the day but missed the after hours move. Gee, this Jack stuff works!!! Doug
Well... I sold all of my FMD right before the bell... I made about .90 on the trade I was so happy, until I saw that news clip about the BoA contract. WAAAAAHHHHH!!! Oh well... making .90 is better than losing .90, haha... I may try to jump in at the bell tomorrow....
Spyder, can you post a chart of FMD showing your trendline analysis? I am trying to learn a bit more about the Bruno method and I am looking for some pointers.... thx in advance!
Increasing Price (red arrow), decreasing Volume (orange arrow), rising MACD and Stochastics (blue arrow). Also price rode the bottom trendline pretty close without breaking down. - Spydertrader <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1029738>
I sold the remaining shares of FMD at the $46.40 USD price point. Total profit on this trade fell just under $1200 USD on 400 shares. - Spydertrader
Spyder, I assume that for entry you are looking for: i) Price improvement ii) Dry Up exceeded, and iii) MACD improvement? This appears to me to be the entry crtieria from the Bruno_r post.