PWAV-Pattern is 7 by 12.00..Buy area was on continuing momentum at 12.50...My reading on directional indicator is +D1=45, -D1=10 and ADX at 33...ADX was 31 on Friday...Bit late, like to get ADX in mid 20's...What got my interest was PWAV did a 180 on Friday on twice the volume of the 50 day...
50 day volume =452,108
3 day volume=847,666
That told me something was up...Also did an 8 day High Low Reversal on Friday...Breakaway gap and stock held above gap and closed near its high that demonstrates strength...True RS is red hot, but I have target determined and will sell when it reaches my target...Will let you know tomorrow...Have to work all day, wife gone, so it will be quick 9:30 opening, and noon hour trade...Won't be able to drain some of my positions as I would like, by following with trailing stops, but heh, that's the breaks...Made plenty today on CIEN...Regards, Mark
P.S. bazan, the last two weeks, I have been on fire....limiting all losses to 1/8 or at most 1/4 of a point, and riding the winners, following when I can with trailing stops... |
