Thursday was a decent trading session going 3 for 3 with my trade recommendations for our Black Service members which you can sign up for a FREE 2 Week Trial Here and have lead to an over 100% return already in 2008 for our stock picks!

Day Trade #1

MVG I went short near the open at 8.80 after alerting our black service members the night before of the potential trade setup up detailed here . Price began to slide right out of the gate early in the morning following that previous day bearish shooting star candle near heavy resistance indicating the likelyhood of a top reversal. We witnessed price drop near $8/share, made a small bounce and then began to trend higher. I covered at 8.23 as 13ema support began to hold and price appeared to be heading higher.

Technical Analysis:

Day Trade #2

MVG was a very similar set up playing a bearish shooting star candle off of a heavy resistance level. I went short early in the morning at 6.65 and eventually covered once price appeared to be making a reversal and exited with an average position of 6.37 for a nice 4.21% quick trade. MVG and MFN both fell sharply again in Fridays session but with the instability in the markets and the possibility of getting a bill passed by congress for the bailout it was risky business to be holding anything over night.

Technical Analysis:

Day Trade #3

QCOR was also another great looking setup for a day trade as price broke out from the 6.80 resistance mark. I Was hoping for a larger intraday swing but price was too slow and i sold very a minimal gain. Went long at 7.03 and closed the position at 7.05 before the close.

Tags: day trade, mfn, mvg, qcor, Technical Analysis

This entry was posted on Saturday, September 27th, 2008 at 3:43 am and is filed under Day Trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.