Back in late January FCX sold off from 90 in a hurry. I started to look for an oversold bounce around 72. That didn’t work so well as it traded down another six points. I remember Gman and Joe P looking for a bounce in X a bunch of times because it had sold off from 65 to 53 and … Read More
This Trade Has Been Eliminated
This morning I mentioned to our traders that AKAM was in unchartered territory. The next long term resistance level was around $40. I also said the gap up was fairly large so I offered that it might take a few days to get to the 40 level. Wrong!! AKAM delivers content over the internet. The explosion of mobile broadband is … Read More
If Only They Were All This Easy…
I managed to pick up some MGM at 11.22 yesterday. I was risking about five cents on 1200 shares. I considered my initial upside to be around 11.80. But ultimately I was looking for a breakout above 12 with upside to 13.80-14. When I came in this morning MGM was trading slightly higher than 11.50. My trading plan was to … Read More
A New Arrow For Your Quiver
I have never written a blog post about the trade setup that I’m about to discuss. For the most part we share pretty openly the setups and techniques we use on a daily basis to make money. I’ve been contacted by many developing traders who actually can’t believe the amount of information we provide free of charge via our blog. … Read More
I Should Have Made This Trade
Bella answers the Question from his post on Friday about whether he should have bought UPS in front of 60.08 after it broke out from that level on the Open.