Apr 10, 2008

ENDP - Long

ENDP just made it on my watchlist today gapping up 1.57% with an open just above yesterday's high and a little gap between the low of the first bar and yesterday's close. I wrapped up my watchlist fairly quickly by 9:55 or so... went through my first scan of stocks and saw the 2nd bar forming a nice inside hammer right above intraday R2 with the low hugging the upward sloping 5ema. Price stalled for a minute or so before taking off. I was in and out in less than :15 minutes as I exited just short of the fib. ext. Price continued to rise and I certainly left money on the table, but I'll always be happy exiting all my shares at the fib. ext.
 





Other than that it was another lackluster day. I gave ADI a hard look on the 5-min chart (6th bar) but that second bar scared me out of entering. However, I looked at the daily chart afterwards and saw that yesterday carved out a nice hammer. Should've seen that.

7 comments:

Anonymous said...

what made you acted on the stock by 9.45..isn't the dictum for daytraders is to wait till 10 AM?

Anonymous said...

OONR,
i also use QT. But when i draw the FIB lines the scale for them is so off than the scale for the entire chart so that you can;t see the fib numbers and you have to keep zooming back & forth..how do you do it?
thx

Anonymous said...

Quick questions, entry break of 2nd bar high and stop was low of 2nd bar?

OONR7 said...

anon 1: sorry... didn't read that book.

anon 2: I adjust my charts to print on the blog. But, you can zoom in and out of charts as you view them to see where the fib. ext is. However, it resets when you switch to another chart.

anon 3: yes and yes.

Can you guys create some names?

QQQBall said...

007 -

how long have you been FT trading?

bl said...

nr7,
nice and quick. alot of bio reaction with MLNM: biib alxn amgn imcl uthr osip gern onxx which I looked up/scanned premkt. Schools fired off: apol dv esi coco ceco cpla

OONR7 said...

qqqball: technically full-time since March '06 (that's when I quit my last job to prepare for the move here). But I would say I've considered this a career since September 2006.