Tuesday, August 28, 2007

Well, the main trades I was watching today all gapped down (along with the rest of the market). Most provided decent shorting opportunities (even for late entries), and a couple of them provided good reversal set-ups once they exhausted themselves. One stock I was watching (NOV) gapped down and tanked in the morning, but had a very quick price acceleration from noon until about 1:45, where it filled the morning gap (which then provided resistance). The price was parabolic on the 15-minute time frame, but had a more gradual appearance on the 3-minute, so I'm not entirely certain if it could be technically classified as a "SS Short Scalp."

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