Dec 14, 2007

BMRN - Long

Been battling the flu the last couple of days so staring at charts has been quite the experience. Today, I went long BRMN on a break of the 9th bar high. My entry was a reversal bar after a red hammer. I typically don't like buying after a 4 bar rundown, but the pullback was pretty shallow. I squeezed out 2R and called it a day. Price looked like it was really going to surge after my exit and I was going to be pissed... but it ended up coming back down. Have a good weekend.

6 comments:

greytrader said...

GSIC seems like your kind of setup :-)

OONR7 said...

gt: that was a beaut... 7th bar. I either accidentally deleted it or it didn't show up in my scans because it wasn't on my watchlist.

bl said...

GSIC was on first 15" scan and yes I shorted -7/15 but for a latte! Oh boy! the best chart along with pfwd -7/15 -2/30 for gap dns.

OONR7 said...

bl: nice, but how did you only make latte on that? It dropped after the 7th. I look for stocks whose trading volume is at least 100,000. So, if I ran my scan before 9:45 it wouldn't have shown up. Also, I've been running my prophet scan at 9:55 and I almost immediately delete stocks whose relative volume isn't above 20 by 10am. Can't get 'em all.

Jerry said...

OONR7: I didn't seriously look at BMRN until 10th bar, but I bet I will lose money anyway since it was a one bar deal.

BL: That is pretty chart. I need to work harder to find one like this everyday.

bl said...

nr7, GSIC, I know I got ancy and covered way soon. Scan: premkt(Trade Ideas, cnn, Briefing) and first 15 min(Scottrade only) 20k, -5% dn gap, separate -1 pt down premkt scan. Only 4 premkt -5% aauk, zqk, bdk, gsic. 5 at the open. Solar rally at the open, same brokers later with reversal.