Replies to post #730 on DAYTRADING YAHOO!

[Kenticus Maximus]

Good call on the RBAK. Also on PDC. It did indeed go to the low 14s before heading up, two days in a row now! I think the bleeding has stopped. On a different note, if you are looking for a stock to lock in a vault for five years, may I recommend CCJ, the worlds largest supplier of Uranium. It could be a five-bagger in those five years. The fundamentals are fantastic! Anyway, good job on the RBAK and PDC! Tomorrow I'm off to California to see an old friend and to attend CTC's annual bag--er--shareholders meeting!! I'll give a report when I get back. Thank you for this board and all the hard work you do.

[PowerPole]

Here are the reasons for entering and exiting...

Yesterday's Day Trade on RBAK...

Wednesday's intraday high was 19.86...I like to Buy when the pps gets above the previous days intraday high...It's called 'buying the breakout'...If the stock is in an uptrend, it's usually a good way to go...The chart formed a bullish pattern between 2:30pm Wednesday and 11am Thursday that broke out into clear blue skies, and took out the old 52 week intraday high of 20.45...Those first two volume spikes were the signal something was about to happen...


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Now, we zoom in to the half hour where it set the high of the day to see the reasons I sold...I almost sold two times before I actually did, but just as I was getting ready to, it broke out to new highs...

See that minute with the super high volume?...Look at the candlestick for that minute and the next four minutes...If you had been watching Level 2 and Times and Sales very closely during that time frame, things got extremely fast and volatile...Unstable is a good word...I sold the minute of the red doji at 12:50pm because it was a great profit, and I wanted it!...



Technically Speaking...The double-top the chart formed here has a neckline at 20.74 so a penny below that would have been the perfect exit...Seeing how it continued to fall to 20.21 after the fact...