Trying to understand a game that has very few rules.
Wednesday, November 3, 2010
The most perfect example of the opening range strategy. Blue lines define last months resistance, the market flew through resistance hard and broke the opening range defined by 14.70-14.40. If the market holds above 14.70 for 2 days or so, you will see financials make a very nice move.
This is a position where I am willing to add alot of capital too. Why?????? Why have I determined that I can add alot of capital to this trade? The reason is I know where I will get out, just under resistance "blue lines."
SanDisk, SNDK is another one that I am itching to buy. Looks like it is about to break that resistance defined from prior month action.