frtayor - yes ITRI has pulled back on lighter volume,
which is good to see and has filed the gap from the other day, as
far as triggers it depends. I would watch say a 5 min chart
to see if volume came into it on the upside, and any positive
divergence formed, also keep an eye on 15 min charts etc. So
far the pullback has been on light volume but if the market does
decide to pull in and volume increases on the downside, then I
would pass. There is also the MA's below (20/50) would like
to see those act as support on a pullback.
Otherwise mind the market as well. We've had about 100
Long ideas for the month of Sept with most of them breaking out,
it's been a fun month for trading breakouts! However in the short
term I'm a little pickier here and plus it's Friday, I like to ring
the cash register on Friday and lighten up.
frtayor - yes ITRI has
ITRI - a good entry point? need your help
Posted by matt on 1st of Oct 2010 at 11:30 am
frtayor - yes ITRI has pulled back on lighter volume, which is good to see and has filed the gap from the other day, as far as triggers it depends. I would watch say a 5 min chart to see if volume came into it on the upside, and any positive divergence formed, also keep an eye on 15 min charts etc. So far the pullback has been on light volume but if the market does decide to pull in and volume increases on the downside, then I would pass. There is also the MA's below (20/50) would like to see those act as support on a pullback.
Otherwise mind the market as well. We've had about 100 Long ideas for the month of Sept with most of them breaking out, it's been a fun month for trading breakouts! However in the short term I'm a little pickier here and plus it's Friday, I like to ring the cash register on Friday and lighten up.
Great, thank you. Did you
Posted by frtaylor on 1st of Oct 2010 at 11:42 am
Great, thank you. Did you mean the 20 & 50 MAs on the daily chart or on the 5 or 15 min chart?