The Q’s were gaping up slightly this morning to open on the mornings high of 68.80-68.81 then sold off immediately setting the low of the morning by 10 am @ 68.39 an area of major support. Price has since bounced off major support and is currently at the 68.65 area. Currently we are in a sideways pattern in the QQQ…
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My first trade came in EBAY which I found during my 9:35 am momentum scan as a 5 minute, red, wide range bar to the downside. I shorted the low with my stop at the high and EBAY fell like a rock actually going climatic on the 5 minute chart. A beautiful play with excellent results and a total profit of 2.5 risk units of profit 🙂 I almost hesitated, but after looking at the 60 minute chart, I was sold on the play as the hourly chart had just triggered an hourly sell, powerful!
ebay03132013