Jun 27, 2007

VPHM

Just because I couldn't trade today doesn't mean I couldn't check out what I could've traded if I would've been trading. Is that enough 'ves for ya? So... I liked VPHM:

  • After initial drop, price proceeded to rise up through the fib. levels
  • The 10:05 bar presented a nice long entry with increased volume
  • Price continued to the intraday fib. ext without any red bars... easy trade

Only thing I didn't like about this is that it happened pretty early and I'm not sure I would've been done with all my scanning by then.

3 comments:

Anonymous said...

yep, ya could made a mint with that one. If only ya'd traded it.

bl said...

nr7, I had 46 premkt stocks from Briefing, 24/7, Trade Ideas. Just before the open I paired it down to 34 and put them on 5min charts, VPHM being one of them. Hit the .62(yesterday's close-OR high),reversed. smsc apog frpt orcl, ffiv, hoku, jbht, trmp etc, on list. 14 stocks from Briefing premkt had some good candidates...at least they are "given to you." I like having my candidates ready to go and set up before the open, or surprises like vrnm jaso omtr hibb cpwm vdsi with little or no gap >50k first 10 min or so. Venting here!

OONR7 said...

bl: smsc looked nice on the :10 and :15 with nice hammer formations. However, I didn't see the kind of volume behind those candles that I like to see. ZRAN also showed up as a nice long candidate, although the initial r:r wasn't great, it would've netted a pretty easy 3R.