The Q's opened neutral this morning and then moved on up trading above yesterdays closing price which I mentioned would be very bullish and it was as price continued the 5 minute uptrend all day long. The high of the day was finally set at 3:25 pm @ 67.65 then price rolled over ending the uptrend and triggering the hourly sell. The Q's closed the day at 67.28... Click on chart to enlarge...
QQQ02272013
My trade of the day was in AMGN which was on my Gap continuation list. I was able to find a 15 minute buy to enter the trade on. The entry was not at the 20 ma but this stock was so bullish all morning I thought that It might not pull back that far and AMGN never did. Price action steadily moved up hitting my target 1 @ .99 cents and from there on I attempted to hold my last 1/2 shares to sell at or near closing. The profit was 1 1/3rd R, not huge but it was my only trade that hit a target today. My trades in X and LVS did nothing all day long and my trades in PEP and TGT I lost a small amount. My P & L had a big fat zero by the end of this day, a scratch day for me but I'm still up for the week and looking forward to more action tomorrow. Here is my chart for my play in AMGN...
amgn02272013