$RIMM Rangebars Eliminate Noise

RIMM had a reversal pattern for a long entry at 9:57am @ 58.30. If you missed that entry there were a few more pullback entries. Most interesting is that the last long entry rangebar started to print at 12:04pm and did not finish printing until 1:24pm which kept you out of all that chop on candlesticks in 5 or 15 minute bars.

Trading With Range Bars

RIMM provides fantastic trading opportunities using a .25 rangebar. Above is an eSignal chart of Research In Motion using a .25 rangebar. The sell short entries on Wednesday were: 60.63 @ 9:31am; 60.49 @ 9:50am; 60.01 @ 11:55am and Thursday were: 59.35 @ 9:31am; 58.35 @ 10:15am. The next support level 56.60 so I will be looking for more pullback entries in this downtrend for intraday trading.

Trading Research In Motion with Rangebars

Using a .25 rangebar to sell short RIMM today produced a profit of $1.67. The 1st sell signal was at the open at 9:32am @ 64.72 and an exit at 9:38am @ 64.26. The 2nd signal to sell short was at 10:31am @ 64.29 with an exit at 1:17pm @ 63.53. The 3rd sell short signal was at 1:36pm @ 63.41 with a cover at 3:34pm @ 62.96. No doubt that using a .25 rangebar works very well. I will see you tonight to trade the Hang Seng if it's trending.

Broadcom Looks Ready to Test 200-Day SMA

BRCM pulled back from it's downtrend giving us a possible sell short opportunity if we can trade below 26.65 on Monday. My target will then be the 200-day sma at 24.77 with some nice momentum moves to the downside intra-day on a 15min chart.

Juniper Networks Sell Signal on Daily Chart

Friday I got a sell short signal on JNPR at 25.69 and continuation for follow through on a break below 25.05 for a price target of 23.03 which is the 200 sma. I will be watching the hourly and 15min charts for day trade momentum moves.

Gold Reversal Pattern Now Flattening

On 10/29 we had a reversal pattern give us a long entry at 102.05 when GLD broke a 2 day high with good momentum on the 60min chart. Now it looks as though the trend is flattening out and i will be looking for a pullback or a possible reversal pattern for a short on the 60min charts for a swing trade or a day trade at least.

Research In Motion Reversal Pattern

Last week RIMM gave us some buy signals on the hourly charts and could be reversing trends. I will be looking for momentum moves intra-day on the 15 min. charts.

VIX vs. S & P 500 Predicting Trend

The hourly chart of the VIX (black line) has crossed the S&P 500 (blue line) on Thursday. With the FOMC Meeting and the employment figures past us, perhaps we are ready to continue to the upside.

S & P 500 In Consolidating Range

This past week we saw the $SPX in a consolidating range. This is very evident on an hourly chart. You can see that the 1st hour of the trading day was the entire range for each day this past week. Over the past week the $SPX has closed higher and looks like it could be setting up for a retest of the October high of 1101.36 .