I've shown any examples of these before where there is a large
offer on Level 2 quotes that also matches up with resistance on the
chart. Many times these will pop for nice day trades once the
offer is taken out
Resistance is a clean $13, let's see if this one can pop, I need
one of you big boys like zach to buy that offer up!
well it only popped to 13.08, so only gave 8 cents, then quickly
then reversed. I always buy these early because they usually
go and don't let you in at the breakpoint, then I always have a
limit sell order in for 5 - 10 cents higher for a scalp.
I was able to sell some, but I still have 1/2 left and
unfortunately it reversed down quickly, hopefully it recovers some.
usually these work out better then this, this one was a
total DUD for sure.
PRIM trade idea
Posted by matt on 27th of Jun 2011 at 10:57 am
I've shown any examples of these before where there is a large offer on Level 2 quotes that also matches up with resistance on the chart. Many times these will pop for nice day trades once the offer is taken out
Resistance is a clean $13, let's see if this one can pop, I need one of you big boys like zach to buy that offer up!
well it only popped to
Posted by matt on 27th of Jun 2011 at 11:14 am
well it only popped to 13.08, so only gave 8 cents, then quickly then reversed. I always buy these early because they usually go and don't let you in at the breakpoint, then I always have a limit sell order in for 5 - 10 cents higher for a scalp.
I was able to sell some, but I still have 1/2 left and unfortunately it reversed down quickly, hopefully it recovers some. usually these work out better then this, this one was a total DUD for sure.
thank you for your insight.
Posted by jamesl on 27th of Jun 2011 at 11:21 am
thank you for your insight. It may pb because the trend is still dwn. I'll be out @ 12.68 if it doesn't turn around.
Trying to get my feet wet on the day trades (oh well!). Thanks again.
I was waiting for Steve to buy it up...
Posted by zach06 on 27th of Jun 2011 at 11:03 am
What would be your target
Posted by jamesl on 27th of Jun 2011 at 11:08 am
What would be your target and stop on a day trade such as this?
PRIM ended up working out
Posted by matt on 27th of Jun 2011 at 03:22 pm
PRIM ended up working out after all, but was a wide ride, down then up