[11:48] <brandon> 11:48:54 STOCK SCALP TRADE UPDATE: AKAM look to be taking gains in here. Very nice. Forget swingin it [11:48] <brandon> trading 3.46
[13:29] <brandon> I have had a number of questions about AKAM [13:29] <brandon> please bring this chart up [13:29] <brandon> let me know when you have it [13:31] <brandon> everyone else got AKAM Up/ [13:31] <brandon> This chart is a really good example of putting things together to get a good trade [13:31] <brandon> using a synergy from one timeframe [13:32] <brandon> and another from the next [13:32] <brandon> and getting a very powerful trade [13:32] <brandon> you can see on the daily chart that AKAM is in a very strong uptrend first of all [13:32] <brandon> this tells us where the momo is [13:32] <brandon> what the interest in a stock is [13:32] <brandon> and for the most part it is accumulating [13:32] <brandon> now over the last few days it has pulled back [13:32] <brandon> sold off fairly heavily [13:33] <brandon> opening high, closing low three days in a row [13:33] <brandon> you can look at the volume yesterday and it was the heaviest in some time [13:33] <brandon> so many people threw in the towl [13:33] <brandon> and its right at support [13:33] <brandon> this is great [13:33] <brandon> unplanned trades are stupid [13:33] <brandon> and thats what this shows [13:33] <brandon> people just bagging out [13:33] <brandon> now its on all kinds of support [13:34] <brandon> and we know the momo is up [13:34] <brandon> now when the stock crosses yesterdays high [13:34] <brandon> how do you suppose that everyone feels who sold? [13:34] <brandon> always look at a chart from the point of view of this [13:34] <brandon> How do other people feel [13:34] <brandon> what emotions are they going through [13:34] <brandon> and how are they likely to react in the face of these emotions [13:35] <brandon> so they say gosh dang it (or something like that) I did it again [13:35] <brandon> I sold right at the darn bottom [13:35] <brandon> and they want to get back in [13:35] <brandon> they knew they had a good thing [13:35] <brandon> they where right after all [13:35] <brandon> so thats the trap [13:35] <brandon> thats the mentality that is going on when you have the bullish trap play [13:35] <brandon> now you know that this setup is very close on the daily chart [13:35] <brandon> so go down in timeframe somewhat [13:36] <brandon> to the intraday to find your entry [13:36] <brandon> and look what we have [13:36] <brandon> good morning momentum [13:36] <brandon> but we missed that [13:36] <brandon> ok thats fine [13:36] <brandon> a good stock will always give you another chance [13:36] <brandon> ALWAYS [13:36] <brandon> so wait and see [13:36] <brandon> is this going to be a good stock [13:36] <brandon> well it bases at its highs for a few hours [13:36] <brandon> this shows accumulation or distribution [13:36] <brandon> dont know which till it breaks [13:36] <brandon> but as soon as it does break you know [13:36] <brandon> and you have a great entry here on a trade [13:36] <brandon> on that breakout [13:37] <brandon> but even better [13:37] <brandon> you have minimal risk [13:37] <brandon> because if you just where to enter as a trap [13:37] <brandon> your stop would have had to be under $3.00 which was yesterdays low [13:37] <brandon> 10% stop [13:37] <brandon> pretty wide [13:37] <brandon> but because you have this base [13:37] <brandon> you can risk about 10 cents [13:37] <brandon> which is much better
I couldn't find any short setups tonight, that's almost scary. We will start to be in full swing HOLIDAY TRADING probably starting tomorrow. Reduce your risk. Ebay, Inc (EBAY) has been one of the markets strongest uptrending stocks. It reached a new 52 week high and over the last several days has pulled back to an area of minor price support. Pullbacks to support after a 52 week high generally offer low risk buying opportunities. Look for buying opportunities in EBAY with HALF SIZE POSITIONS (due to the holiday and also three waves of weekly buying) on trades above 98.25. FedEx Corp (FDX) is an uptrending stock that is making higher highs and lows. This is its first pullback after making a 52 week high. The pullback has taken it to an area of price and moving average support. Look for buying opportunities in FDX on trades above 61.15. © 2003 Trading From Main Street
Today's action has been thus far a very strong trend day up off of an NR7 Breakout in all of the major indexes. Currently the indexes are all holding up very well. This is a positive sign, and should it continue we would expect continued strength into the close. Look for stocks that are showing similar action. So far today we have done very well with alerts in FNIS off the open, NTES, GNTA, AMZN, CHKP, EYE, USAI, CTXS, EXPE and various long trades in the NQ and ES, all of which have done very well. For a free trial to the TFMS Live Trading Room please visit http://www.tradingfrommainstreet.com
any of your guys holding ATCO. Huge breakout on that press release following the USA Today article. It's the pump that never seems to dump. You guys got it right?
[10:35] <brandon> 10:35:49 STOCK DAY TRADE: BUY SETUP BBY above 37.80. Stops under 37.60 www.tradingfrommainstreet.com/May28BBY.gif Brandon