Quote from Spydertrader:
Well, it may turn out I didn't give PWEI enough time. Price for PWEI still remains within the channels on a thirty minute chart. I just didn't feel like waiting around for it to get its act together. We could see price bounce higher off the lower trendline later this afternoon (30 minute chart), but the daily shows price well into the upper third of the longer term channel.
Yes, NDAQ made the Watch List based on a 'Bruno R' set up. I didn't buy the initial run up this morning because price seemed to me to be 'too high' in the channel (upper third). When price pulled back near the lower trend line, I set a few limit orders at various price points (in case my thinking proved incorrect). As a result, I only received fills on 2 of my 4 orders. After price shot up, I cancelled my unfilled orders. My initial thinking was to hold NDAQ for about 3 - 4 days based on a trendline analysis. However, I may off it early should price breach the upper trendline before end of day.
- Spydertrader
