Posts
The Purpose of Vacation
2 days ago
Wednesday, November 4, 2009
Another quick review of a trade set up from today. This is similar to our RIMM trade from Monday. In the top chart we see a name that RIMM (in green)was weak intraday relative to the overall market (divergence). Notice the early move up in the S&P futures (in red) was not accompanied by GRMN.In the bottom chart we see a breakdown on the daily chart. Once again we had several factors at our back to enter a short position in GRMN (daily chart, divergence/weakness intraday, post earnings). Our office was able to read this and enter short at various places between $31.00 and $29.00 for different trades.
