My 2nd play of the day was in INTU which I found while doing my 9:45 am wide range bar scan. Not a perfect 9:45 bar because the first bar did not close solid, but I still put it on my list to watch. Soon price action in INTU put in a small narrow range bar on the 5 minute chart with a bottoming tail, a nice little 5 minute PBS formed. Since the market was also triggering a 5 minute buy, I entered as INTU triggered it's buy @ .71 with a full share size. As the market rallied upward strongly, INTU rolled back over and took out the low of the bar that got me in the play. I had my stop .05 cents further which kept me in the play as the QQQ continued its relentless upward climb, INTU finally recovered and started to move upward in what I like to describe as institutional buying. I sold a few shares @ .83 since price was hitting a daily pivot line but my real target was back at the highs of the day @ $73. I offered out @ .97 and with a little more than 1/3rd shares left I was able to unload most of my shares near the high @ .20 then I trailed my last remaining shares @ .11 cents. This is a good example of why great plays are taken in the direction of the overall market. and maybe I should have left INTU off my list since the 9:45 bar was lacking. Here is the chart for my play in INTU...
intu 02182014