I alerted RAMR as a day trading opportunity not too long ago though the trade was never triggered. This stock is showing signs of an upcoming breakout as price action and volume and making some bull signals here. Lets take a look at the intra-day chart. A breakout above 2.02 and this stock is a buy for a day trade.
Jan 26, 2008 Technical Analysis
Taking a look at the DOW we witnessed a short lived rally back up to the 12.5k resistance/ prior support breakdown where the bulls got swallowed by the force of the bears. Now that this area has been tested again we should be looking for shorting stocks as long as price remains below this 12.5k level. I believe the market is gonna have another leg down judging from this chart pattern. So what do say we look for some shorting opportunities for next week over the weekend ey guys and gals? She was a ho! Fooooooorrrr sho!
Jan 25, 2008 Day Trading
Todays Day Trading Wrap: currently i’m trading $10k lots/ trade.
RAMR – trade was not triggered.
COIN – price action gapped up this morning back to descending resistance. I faded the gap and entered at 10.80 on the breakdown. Fading the Gap is a really popular and effective day trading strategy in which to trade morning gaps. Using an interval of your choice price usually consolidates for a short period of time before breaking to the up or down side. I covered this position 9.70
BPFH – This trade worked out exactly like planned. I shorted at the opening and price has retraced over 5% throughout the session and found support near the 13ema. In at 23.50, out at 21.86
Jan 25, 2008 Technical Analysis
DROOY made a solid 17% rally today on increased volume breaking out from an ascending wedge pattern placing this stock on the map for technical analysis breakout buyers. With a forward earnings estimates of .51 and the Gold industry trading at an average earnings multiple of 42.28x earnings, this sets DROOY with an attractive fair value share price among its peers around double from its current pps 11.35 at (42.28 x .51 = 21.56). Although with Gold contracts looking extremely over extended its a tough decision to buy as gold is gonna hit a top sooner or later and endure a correction, which will have an impact on gold stocks, likely similar to the solar correction we are currently witnessing. No plan for buying at the moment but this stock looks bullish and fundamentals are in our favor. Lets feel this one out a little bit longer.