Wednesday, January 2, 2013

Trade of the day, DOLE!!!

Thought my trade of the day was going to be on UVXY, but the stock started slowly dipping during the day, and got stopped-out after I moved my stop to breakeven. DOLE was pretty much a simple play on a somewhat double bottom move upwards. I went long 1000 shares at 9.80 after a hammer formed where it tested the lows of the day for the second time. The stock started consolidating but failed to move any higher, so I decided to sell it after getting a hint ( higher volume bar on pic) of weakness in the consolidation period at 10.05 for a .25 point gain.
If you want to see what I might be trading during market hours and interact with me during my trading days, just follow me on stocktwits or twitter @tradermike9.

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