Catch Up
Late-day breakouts from consolidation patterns can often lead to explosive
moves. Yesterday’s Slim Jim breakout alerted by the TradersWire’s
Insights From The War Room is a
great example of how stocks playing catch up can move higher in a hurry.
14:00:57
Intraday Setup Alert
THQ Inc. (THQI)
is trading in a Slim Jim at the intraday high. THQI is currently up 3.89 at
41.98.
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At the time the alert goes out, the Nasdaq Composite
(
COMPX |
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PowerRating)
has broken out above the open, and is pulling back to the level of the
breakout/open, which has now turned into intraday support. The index moves 20
points higher off this area of support in the 35 minutes preceding the breakout
in THQI.
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When THQI breaks out from the Slim Jim at 14:35, it plays catch
up to the Naz and gains more than 2 points quickly, and almost 3 points by the
close.
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Keeping an eye on the Insights From
The War Room, along with scrolling the intraday charts of the
indices and stocks, will uncover late-day moves such as this and help you add to
your bottom line.
Until tomorrow,
Duke
P.S. Eric, as soon as I collect my wine from Coop, a couple of
bottles will be on the way. As of yet, he still is not taking my calls.