This Is Why You Should Watch Support Levels Closely

As Mr. Greenspan
testifies to

the Senate Banking Committee,
 the S&P 500 ($SPX.X)
drifts in a narrow range. I wonder how much longer he is going to speak.


10:06:55 (From TradersWire)



Action

Symbol

Order Type

Setup

Stop

 Target

Current Price

Posted By

Buy

JWN buy stop at 52.21 pullback 51.99 52.50 52.20

TK


 Nordstrom (JWN) reported better than
expected earnings, and it gapped up at the open. Although the stock sold off
immediately, it bounced off 52 and formed a hammer. Again, shortly before 10:00
AM, it tested 52 successfully and shaped a small hammer. It appeared JWN looked
ready to bounce. I placed a buy stop at 52.21.

T.Kamada

Feel free to mail me your
questions.

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