A New Year’s Resolution
It might be the first day of
the new trading year, but quite often you’ll find that it’s the second attempt
that ushers in a ‘happy new year’ in your trading account.
09:42:29
Intraday Setup Alert
Biolase Technology (BLTI)
is a member of TMs
Intermediate-Term Report. The stock has previously broken out of a weekly
base, but with today’s action having the stock up about 1 point at 17.65,
triggers above a week long consolidation and session highs are set at 17.86,
which represents the 15-minute high in today’s trade, and pennies thru prior
congestion highs.
I don’t know about you, but personally speaking I
would not have given BLTI more than .30 worth of initial risk, unless I decided
to decrease my position size in the first place. So the first entry to fresh
52-week highs felt kind of like the ‘dropping of the ball’ in Times Square–and
something that definitely needed to be removed once the fall from grace was
triggered.
But, as we look to go forward and make 2004 a
better year–for traders one of the best New Years resolutions that we can make
is to keep focused and look for quality second entries.
11:45:02
Intraday Update Alert
Biolase Technology (BLTI)
was not so kind the first time around, but with the stock up 1.13 at 17.73, BLTI
is setting up once again. BLTI has formed an intraday
Slim Jim slightly below session highs of 17.89, with pattern triggers of
17.75.
….and it looks like the start to our new trading year is already looking
better.
Chris Tyler