Use A 3-Day Chart In Your Trading
Bear Stearns removed
Dell Inc (DELL) from their Focus List. The stock is now trading below
the 200-day MA, and it is approaching the 61.8% Fibonacci level (10/26/04 low –
12/9/04 high).
10:38:02 (from TradersWire)
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
Sell |
AIG | sell stop at 53.54 | double top (5-min) | 53.69 | 53.20 | 53.64 |
TK |
At 10:30 AM, American
International Group (AIG) hit the intraday high and formed a doji bar
(opening price=closing price). The stochastic was also indicating a negative
divergence. This was a potential short selling situation. Before opening a short
position, I checked one more chart. As you can see below, AIG was running into a
resistance line. I placed a stop order to sell at 53.54.
10:43:28 (from TradersWire)
Follow up on AIG
It has hit our target. Cover half and move stop to 53.40.
T.Kamada
If you have questions, feel free to
mail them to me.