Friday, May 08, 2009

Noob Trading for Today

Got stopped-out of TMV on a sharp dip, right before it channelled back up. I'll hold of for now, and see what happens Monday. Took a chance on FAZ during what I thought was a dip, but quickly gave all that money away and got stopped-out right away.

Bought some GNK at 19.71 and ILMN at 38.90. ILMN just hit the bottom of an ascending triangle, if it breaks down I'm out. GNK recently broke resistance around 19.50 and shot up to 23.75 before pulling back. I'm betting that line is now support, and will drop GNK if it falls through it.

FEED and GMO were flat all day, except GMO had a small runup at the end of the day. Chart patterns are still good, both on ascending triangles which are getting closer to Judgement Day.

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