Research In Motion (RIMM) is pulling back nicely on the weekly timeframe. I am looking to trigger short. There are many other tech stocks that have similar patterns. Weekly charts are great for longer term trend trading.
Joel Stahl
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It looks like you'll get your trigger today. I have a target in the level of ~$30
Posted by: Terry Felter | February 11, 2009 at 06:13 AM
Joel - Great set up! thanks for sharing....curious as to the scan you used to find it? (if you used the Avanced Get scanner)I used a weekly time frame for a "Poss Stoch Sell"; got a few names but no other tech's showed up...
Posted by: Pete | February 11, 2009 at 05:15 PM
correction: I used a Poss Type I sell...not a Stochastics Sell scan
Posted by: Pete | February 11, 2009 at 05:20 PM
I didn't use a scan, but have this as one of my stocks to watch. After reading the blog, I chimed in my thoughts. Target still in the mid 30's.
Posted by: Terry Felter | February 17, 2009 at 09:15 AM
I closed some of the puts today, paying for all the position I had. Now everything is pure profit even if the puts go to zero. This still looks down to me though, just can't go broke taking a profit.
Posted by: Terry Felter | February 18, 2009 at 12:02 PM