This Is Why You Should Watch Support Levels Closely
As Mr. Greenspan
testifies to
the Senate Banking Committee, Â 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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