Jul 16, 2007

IMMR - Short

IMMR is a great example of a stock that goes against the day's trend. I actually had a lunch meeting and needed to cut the trade short, but it at least got to the OR low. Here's the trade:

  • Placed fibs. from first bar high to low
  • Price made a quick jump up past the 61.8 level but didn't stay there for long
  • After falling down, price consolidated at the 38% level and I waited for a nice down bar with volume
  • Entered on break on the 11:30 bar low (with nice volume)
  • Sold at the ORL as I needed to head out for a lunch meeting
  • IMMR looked good on the 10 and 15-min timeframe as well
  • Around 3R for an hour's worth of work... then played virtual tennis for 2 hours

4 comments:

Anonymous said...

Nice trade, could talk more about virtual tennis? WII?
-DT

OONR7 said...

thanks DT. Actually, I went to Dave and Buster's in Fort Lauderdale and ended up playing on their virtual tennis game: http://www.segaarcade.com/video/virtuatennis3.aspx

I'd love to get this for my home when we move back to the states.

But I do plan on buying the Wii.

JerryC said...

great trade. Another classic 5 min OON trade.
Say, you mention before you hate vista, why? did it eat up all your ram and cpu power or what?

OONR7 said...

jerryc... thanks, I really did like how IMMR setup and I should create a hall of fame section and place picture perfect trades in there :)

As for vista... I think it was Esto that had major problems, I've been fairly happy with it so far. Of course, I'm a mac guy so it'll always be a ripoff of the original Mac OS.