Jan 11, 2008

No magic

Last week I went out, got some steak and came home to a nice gain in SPN. Today, I got ice cream and then got stopped out on MHS (:30, 1pm bar low). Moral of the story... ice cream sucks. Me likey da steak.


Dave said...

I was on the road and on the laptop today. Stopped out of JNPR for -1R. Didn't take NAT right infront of my eyes.

LP said...

I thing I can say for sure is that an inside bar on higher volume is worthless. You get lucky once in a while but lucky never the less.

OONR7 said...

dave: I was looking at JNPR but nothing opened up for me.

lp: I like the random thought :) Not sure I entirely agree as I'd have to see the setup. Just entering based on those two things is not enough for me. I've started to like bars with either heavy volume or much lower volume than the previous bar. I also think this market is whacked (at least for gappers). A lot of candidates but not a whole helluva lot of movement.

bl said...

I found 9 premkt gap dn with mostly inside bars: cadx-3/10
-2/15, inn-2/10, ma-2/30, tif-4/15, axp-10/15 also 2:22 reversal on 1' chart off the 50 ema(usna broke out for 3 pts) ab-5/10, mcd nice 5" chart slide from the open. Amazing broker some solar fertilizer open rallies on 1" charts.