BITS has just come up as a FU candidate through the Stocktables / Chartscript sorting: Float: 7.3M Avg Vol: 223M EPS: 0.26 Price: $10.44 Rank: 5.68 Financial details from Yahoo
'Danny Tie Exit comments' I've found that the mechanical exit rules that are well documented in this forum will get you out of trades prematurely. I think a better method would be to draw a trend line, parallel to the channel trend line from the low of the daily close, offset by the offset number for your exits. The trend line is moved on a daily basis to the close of the daily bar offseted by the offset. And as you get closer to the maximim number of days that you want to hold or just to lock in profit then follow the same procedure without adjusting the exit trend line with the offset.
Entered BITS @ 10.59, but with no continuation, I exited @ 10.54. I told myself to avoid TIE today, but I still entered when the volume and price were great. Unfortunately, It was outside the top of my IT trend channel, so I had no target to focus on. A trading mistake I'll have to work on. Entered @ 33.58 and exited @ 32.78 when the 2% level was hit. Sold GIGM short for a quick 2.6% down to the right IT line. Entered @ 9.71 and exited at 9.45.
RU trading today? Thought you took off FedDays. If you are, good luck. This AM was decent for me, both shorts and longs. Doug
Not trading Equities today. As you pointed out, I try to avoid the urge to trade on "Greenspan Days" from an Equities standpoint. I posted those charts (above) in response to a question in the ET Chatroom. Another trader (DJXput) had an interest in the equity. Good trading to you though today. - Spydertrader
i did exactly the same thing, got caught in that nasty nasty selloff in TIE, it just looked too sweet to lay off, especially with the volume. result, 2%loss i made the loss up in XING, exactly even for the trading day, including commissions