Aug 27, 2007

NBR - Short

Hope everyone had a good weekend. You know, for the last two weeks or so, my watchlists have been pretty short and while I would prefer more candidates, I like finishing my watchlist prep early (around 10am). This has helped me spot a few trades earlier... like today's trade in NBR, here's the chart (10-min):
 
NOTE: From now on, I'm just going to show my entry on charts... since I may be exiting on another timeframe I don't want to take up too much time just to draw an arrow on a chart.

  • Placed fibs. from first bar high to second bar low
  • Priced retraced 50% from the morning low and printed a nice down marabuzo bar with increased volume
  • Entered on break of the 4th bar low
  • Exited right below the 61.8% ext.

9 comments:

Anonymous said...

Bravo, nice trade!

QQQBallz

greytrader said...

Nice. I almost pull the trigger on the break of the 7th 10MIN.

FXI 15' was a big winner for me today.

OONR7 said...

thanks QQQBall (should I really add the z????) Very funny.

gt: Congrats on FXI. Where did you enter? Found it through prophet, I imagine???

greytrader said...

FXI 15 break of 9th bar. I did find it through prophet.net with a scan similar to yours. I am only using prophet.net and the inet site now as I have decided not to renew my TC Platinum sub which I was using for charts and scans. I really like the charts in QT.

Thanks for all the info !

Jerry said...

Great start of the week.

OONR7 said...

thank you jerry. Did you see anything worth trading?

OONR7 said...

lol... nevermind, just checked your site.

Jerry said...

otherthan LFC which you saw on my web, ntri, chl & crox was good to trade, too

bl said...

Nice fib work on NBR. Looking at the Briefing list LFC fib at 12:05 38hammer, ACH, ONXX 10.05 38hammer, CROX my focus stock which I blew 10:50 consolidation and nowhere near a 38fib. Just goes to show you expectations can be really off the mark, gotta be flexible. With LFC and ACH premkt's figured the chinese stocks going to rally: added FXI,CPSL BIDU. Noted that many naz momo's ralled out the gate. Oh well a bit frustrating today.