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The pump and dump thread
- Thread starter Brandonf
- Start date
Trade Update.
Juniper (JNPR) was given on Monday and taken long from $12.10. It hit its
target of $13. The initial risk on the trade was just over $0.10.
Ebay (EBAY) was given as a setup for yesterday and setup when it traded
above $95.15. You should have profits taken off in 1/2 to 100% of the
position, and stops move to breakeven on any remaining shares.
Overall the market looks fairly good, though we are due for a pullback
which it looks like we will be getting here. The next few days will be
important to watch. You can never tell how strong a market truly is until
it pulls back, so this is a great opportunity for short term traders. The
market has remained very favorable for swingtraders. I would continue to
lock in some profits on open long trades, and perhaps explore some
shorting opportunities with reduced position sizes. Generally speaking I
think that Thursday will be a slow day as the market continues to rest. I
think we still have plenty of upside (both shorter term and longer term)
Goldman Sachs (GS) has been in a sideways trend on the weekly chart. Over
the last month or so it has rallied up to the top of its most recent
trading range. When range bound stocks rally to the top of their ranges
traders should start to look for shorting opportunities. Typically these
opportunities present themselves on a smaller timeframe. With Goldman the
daily chart is starting to form an avalanche pattern, which may provide
for good short entries.
http://www.tradingfrommainstreet.com/chartpatterns/all.asp#avalanche
For a free trial to the TFMS Live Trading Room Visit our homepage:
http://www.tradingfrommainstreet.com
Brandon
Juniper (JNPR) was given on Monday and taken long from $12.10. It hit its
target of $13. The initial risk on the trade was just over $0.10.
Ebay (EBAY) was given as a setup for yesterday and setup when it traded
above $95.15. You should have profits taken off in 1/2 to 100% of the
position, and stops move to breakeven on any remaining shares.
Overall the market looks fairly good, though we are due for a pullback
which it looks like we will be getting here. The next few days will be
important to watch. You can never tell how strong a market truly is until
it pulls back, so this is a great opportunity for short term traders. The
market has remained very favorable for swingtraders. I would continue to
lock in some profits on open long trades, and perhaps explore some
shorting opportunities with reduced position sizes. Generally speaking I
think that Thursday will be a slow day as the market continues to rest. I
think we still have plenty of upside (both shorter term and longer term)
Goldman Sachs (GS) has been in a sideways trend on the weekly chart. Over
the last month or so it has rallied up to the top of its most recent
trading range. When range bound stocks rally to the top of their ranges
traders should start to look for shorting opportunities. Typically these
opportunities present themselves on a smaller timeframe. With Goldman the
daily chart is starting to form an avalanche pattern, which may provide
for good short entries.
http://www.tradingfrommainstreet.com/chartpatterns/all.asp#avalanche
For a free trial to the TFMS Live Trading Room Visit our homepage:
http://www.tradingfrommainstreet.com
Brandon
[13:39] <brandon> Pretty sure Im done for the day
[13:39] <brandon> not too much action out there that I like
[13:39] <brandon> overall a pretty good day
[13:39] <brandon> S short from 26.95. Coverd 26.99. ADBE long 36.80, covered half 37.18 and half b/e. VRTS long 25.60, covered 25.78, INTU long 42.15 to 43, ALTI long from 1.15 stoped 1.08, SURE long 2.74 and out 2.74, RDRT long 1.27 to 1.32 average and GD from 64.70, out 2/3 at 65ish and holding the rest probably as a swing. LAB 20.35 to 20.55 average.
[13:39] <brandon> not too much action out there that I like
[13:39] <brandon> overall a pretty good day
[13:39] <brandon> S short from 26.95. Coverd 26.99. ADBE long 36.80, covered half 37.18 and half b/e. VRTS long 25.60, covered 25.78, INTU long 42.15 to 43, ALTI long from 1.15 stoped 1.08, SURE long 2.74 and out 2.74, RDRT long 1.27 to 1.32 average and GD from 64.70, out 2/3 at 65ish and holding the rest probably as a swing. LAB 20.35 to 20.55 average.