Feb 2, 2008

Friday's trade

Had a bunch of stuff to do Friday night and Saturday morning so sorry I couldn't put up a post. Had a trade that was good then turned bad... DRIV (not the best setup but I made the case to enter). What saved the day was ALTR. It wasn't the greatest of opening bars but did manage to pop through the ORH and retrace back. I entered on a break of the 1pm bar high and selling during the 2:15 bar.


Anonymous said...

used your methods on MT & OMTR.
Both yielded me >3R.
Thanks for all that you do.

Closet Daytrader said...


I traded ALTR too. But I entered on the break of the 7th bar. I was luck that it didn't pull back too much to trigger my Protective Stop.

Have a wonderful weekend!

OONR7 said...

anon: glad I can help. Toss me some of those Rs :)

cd: nice entry, would've preferred it almost right at the 5ema.

bl said...

NR7, Nice trade on ALTR. Aggressive 2/15, and 7/30, and B&B set up with closing of gap. Have found shorting of M&A aquirers can work: msft orly. Scalp omcc yahoo ca. Interesting gaps: avid driv cern swc imb ca fls whq ach sina sohu mt infn iwov. Bot HANS sept45 call on possible buy out. Alot of gap ups= 30" charts maybe. Jamie traded nvda on reversal of semi's: sigm klac xlnx. The whole mkt reversed: airlines: uaua!

QQQBall said...

i loked that trade over this weekend. then i looked at it again today, and that's a really cool trade. really good patience to get the nice entry. if you take the earlier entry, maybe you get bored or shaken out and move on... nic etrade.

OONR7 said...

qqqball: thanks. I liked how there were no upper tails (resistance) and, of course, the 2 bar move down followed by the strong reversal bar (entry).