American Express Using Rangebars

Today AXP was very weak and provided almost 2.00 of profit using a .20 rangebar for sell short entries. There were 4 sell short entries and no reason to cover until 4:00pm. The first entry was at 9:40 am @ 40.80; the second entry was at 10:50 @39.99; the third entry was at 12:53 @ 39.54; the last sell short signal was given at 1:10 @ 39.50 and there was no reason to cover because AXP just kept making lower low on the .20 rangebars providing a 1.91 profit if you covered on the close.

Trading Research In Motion with Rangebars

Today was another day to take 1.63 out of day trading RIMM using a .25 rangebar. The first entry signal was 60.19 @ 9:32 am; the next long signal came 2 minutes later @ 60.25. If you missed those at the open we got another signal to go long at 60.40 @ 9:46 am. Another long signal came at 60.90 @ 10:26 am. The stock topped out at 61.39 and we got our sell signal at 61.14 @ 11:05 am. This produced a profit of .95 on the long side. As you can see after the sell signal we had a trend reversal and did not take the next trade until 2:03 pm on a sell short signal @ 60.43. We did not cover until our signal came at 59.75 @ 3:43 pm. producing a profit of .68 on the short side to give a total profit on the day of 1.63 taking 4 longs and 1 short.

Trading Gold Stocks During Comex Trading Hours

If you are going to trade Gold stocks such as Barrick Gold Corp. ticker ABX, you need to know that Comex Gold trading hours are from 8:20 am est. until 1:30 pm est. Even the Gold ETF ticker GLD, opens on the NYSE for trading at 8:20 am est. As you can see on the 15 min. chart of ABX the stock gave it's first long entry signal at 9:00 am @ 43.60 today. The first pullback for another long entry was not until 11:00 am @ 45.47. Also, the exit was at the Comex close at 1:30 pm, the closing price on ABX was @ 46.42 after reaching the session high of 46.61.