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Technical Analysis, Momentum Trading — iBankCoin

Monster Moves

by RaginCajun on July 17th, 2008 at 4:19 pm

You gotta love this action if you are a trader. We are seeing monster moves in everything from banks to oil, everything is flying.

Today my theme was simple, oil was breaking down and I wanted to take advantage of it. So what did I do? I bought everything that has been beatin’ down because of oil. Airlines via (HA: 4.14 -0.48%), Refiners via (HOC: 11.41 +3.63%), the consumer via (BWLD: 16.85 -0.18%).

Sometimes the easiest trades are in front of you, you just have to think through this tape.

Note: I made a terrible decision buying (AAPL: 81.40 +1.13%) in front of the (GOOG: 262.42 +1.10%) numbers. It could have been worst I could have bought GOOG.

See you guys tonight..

One Response to “Monster Moves”

  1. thetruck Says:

    Ragin, Great trades.

    AAPL is done, no doubts. maybe a strangle into earnings but me thinks since yesterday (wallstreak post) aapl long not a good idea

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