Day Trade - Long ALTR Entry: 21.16 Stop: 21.00 Target: Open

February 15th 2007

Day Trade - Long ALTR Entry: 21.16 Stop: 21.00 Target: Open

Tonight’s trade is ALTR. Fridays are always kind of lazy for me. I’ll be looking at a few day trades in the morning. If nothing sets up, then I’ll be getting an early start on my research.

One method that I have had success with is setups in the 30 and 60 minute time frames. I’m specifically looking for this setup to “set up” the following trading day. In this example ALTR is forming a triangle with both 10 and 50 period SMAs moving up to support it.

When the stock opens, I will be taking the trade if it opens under and then moves over 21.16. If it gaps over 21.16 then the trade is invalidated..

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