January 17th 2008
Trading Ideas for 1/17
I’m anticipating more downside movement, but I came across a couple of long opportunities that I think are worth a look.
There’s not a lot for me on either side of the market. Any long trades I have are being closely monitored for the faintest sign of weakness. Shorts are being held for a bit longer.
Not much else going on. I am predominately sitting on my hands. VRUS and FSLR have setup nicely.
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3 Comments »
kingace32 on 17 Jan 2008 at 5:57 am #
On the COIN chart - what is that blue line that desends sharply.
Jonathan on 17 Jan 2008 at 6:15 am #
That would be the lower Bollinger Band. In this case, the blue line is two standard deviations from the basis(not visible). The basis is a 20 period moving average of the stock’s closing price.
Bollinger Bands are a graphical representation of volatility. There’s a few way to interpret them, but I have found them less useful in trading breakouts like COIN, and more useful in confirming counter trend trades or pull backs.
Here’s a site to check out if you’re interested in learning more about Bollinger Bands and their uses: http://www.bollingerbands.com/services/bb/
thewild1 on 17 Jan 2008 at 3:21 pm #
everybody seems to be in love with fslr