Whip It

  • May 4, 2001
  • Duke Heberlein

Breakouts from the morning range can often trigger explosive intraday trades.
The TradersWire’s java applet will
many times alert tradable breakouts and breakdowns from the morning range via
the “goes positve/negative for the first time of the day” alert. IDEC
Pharmaceuticals
(
IDPH |
Quote |
Chart |
News |
PowerRating) provided us with a great example of how this can
play out.

 

STK 12:03 IDPH  goes positive
first time of the day

 

 

Pulling up the intraday chart, one can see that it has already
broken out from a Slim Jim, the Nasdaq Composite
(
COMPX |
Quote |
Chart |
News |
PowerRating) has been
rising steadily for the last two hours at 12:03 p.m. Eastern, and a program-buying
alert flashed on the applet around 15 minutes before the IDPH alarm. Put all
the pieces together and the nimble take the money and run.

Have a great weekend!

Duke

P.S. Dave, enjoy your well-earned vacation down in Cancun.
Just don’t get too out of hand. You are way too pretty to be spending time in
a Mexican jail!