July 25th 2007
Day Trade ANET
ANET is another example of an extreme with opportunity.
What we’re seeing is 4 down days in a row.After a nice climb, the stock has hit hard times. It’s gapped down and its downward spiral has not abated. So where’s the opportunity? Well, there are no guarantees, but what I would like to see is tomorrow’s session open above today’s close and continue higher. If you really want to put the screws to ANET, we can hope the stock gaps above yesterday’s high and move higher. A gap over yesterday’s high would technically be an OOPS trade, as sellers yell “OOPS!” and hit their buy button to cover their shorts. I think “Oh Shit” would have been a better name for the formation.
Anyway, like I said, no guarantees this is going to pan out, but it’s just one of many formations that gives you that added edge in trading.
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