Friday, February 4, 2011

ARAY trade review

Good week with a nice ending. Though SIMG was the big dollar gainer for me today, I traded ARAY with a little less mechanical entry than SIMG. If you look at the SIMG intraday, I just bought the new high break at ~ 12 mins into the day and sold on the way up to highs. Simple, half the trading room was in it.

ARAY will be worth watching on Monday, as it has not completely broken out yet. It may just start forming a larger pattern that will take many more days, or it may just keep running.

Here is how I played it today.

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2 comments:

  1. TraderEricFebruary 4, 2011 at 4:48 PM

    Great Trade Rick! Thanks for posting this trade. I wasn't in the room today, but I learned alot from how you approached this trade. I always wondered how you (and some others) entered trades before the break of the highest flag. Something new to look for. Have a great weekend!

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  2. RickHFebruary 5, 2011 at 10:11 PM

    Hey Eric, Check out ARBA from Friday too. Both myself and Garland got it, and it had a large consolidation/flag right below/at 29, then a mini flag right before breaking out, so entered at 29.01 rather than the ~dime higher breakout... gave that little bit more cushion. I've seen that flag before the breakout setup before, another way to get a little more edge. See ya next week! Rick

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