Get In, Get Out, No One Gets Hurt
Open reversals often present quick-acting daytraders with opportunities to pull profit out of a
fast-moving market, when most others are still rubbing the sleep out of their
eyes. This morning, via TradersWire Interactive’s live
chat room we profiled a successful move in Siebel Systems
(
SEBL |
Quote |
Chart |
News |
PowerRating).
The beauty of the new chat window in the TradersWire
is that fast-moving intraday setups such as opening reversals can
be relayed to the membership much faster than before, giving the member more
time to evaluate the setup and decide if it fits into their style of trading.
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When the Nasdaq gaps down and starts to move higher immediately,
I start to scroll the 5-minute charts for opening reversals. SEBL is nearing the
level of yesterday’s open when I post into the chat room that it appears to be
staging an opening reversal.
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Siebel goes on to gain more than 1 point in about 20 minutes,
before chopping around the rest of today (as of the time this is being written).
Sometimes there is something to the old saw of “get in, get out, no one
gets hurt.”
Until tomorrow,
Duke
P.S. If you have not taken the chance already, go on over and
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