The first
great trade of the day was RIMM. I did two round trip trades on this stock. First
trade I went long 1000 shares at 11.65 when it formed a candlestick dragonfly
doji 10 minutes after it open on the 5-minute daily chart. Yesterday everybody
and their mother starting shorting RIMM before their earnings came out, and
when I saw the huge gap down this morning, I knew some of them wanted to start
covering their positions as soon as possible. I ended up selling it at 12.20
when it started forming a shooting star candlestick bar on the 5-minute daily
bar chart for a .55 point gain.
The second
trade of RIMM today was when it formed a hammer with a lot of volume to match, signaling
another possible bounce. Bought 1000 shares at 11.25 and sold it at 11.30 for
just a .05 point gain. It was pretty much a total of $600 in profits on both trades
with RIMM.
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Now the picture below is my second great trade of the day
with HLF. If big money man Bill Ackman was really short 20 million shares, I
thought another sell-off of HLF would have some short covering from somewhere. Went long 300 shares at 26.65 when it started
to fall apart again today and when hit a 3 year support level around 26. It also formed
a reversal candlestick hammer, with the highest volume yet prior to that candle
on the 5-minute daily bar chart to convince me it was time to buy. I was only
looking for a bounce back to at least 28, but sold it at 28.09 for a 1.44 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.
