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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: Jenna who wrote (118277)12/6/2000 11:43:36 AM
From: Jenna  Read Replies (1) of 120523
 
CHKP.. nice one from the get go marketgems.com

4> CHKP - Checkpoint Software  Price= 73.9
Volatile stocks like CHKP can have triggers in the opposite direction of a morning gap. For example
below CHKP gapped up on Monday but moved down on following 5 wide range 15-minute bars.
On Tuesday, however, the trend was so strong that although CHKP gapped up, it triggered IN THE DIRECTION of the gap up as a bullish runaway gap. Wednesday, we can have a situation with a morning gap up (exhaustion gap up) or a gap down and continuation of more bars to the downside.  Take at least 3 5-minute bars for your entry set up.
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