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[Previous entry: "AHC--Nice two day trade"] [Main Index] [Next entry: "S&P Weekly resistance."]
12/18/2003 Archived Entry: "SPF--Another great chart from ProfitPoint for +$5.91"
Click here for SPF chart ProfitPoint subscribers received the SPF chart Dec. 3
We entered a short position on 12/4 at the open at $49.71, (our entry trigger was the close below the 3x3 12/3).
With breaks of prior support of 47.80 and SK level of $45.75 and gap fill from 10/27, we closed the position 12/10 EOD at $43.80.
Plus $5.91--a gain of 12%!
Aggressive swing traders could hold for weekly SK support in the $39.40 area. Watch weekly TRSI and place your S/L at b/e. (One day we’ll devote some time to strategy. But one strategy is to take half your position off the table at $43.80 and let the other half ride).
If you traded this ProfitPoint chart, please post a reply and tell us how you did.
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