Friday, February 22, 2008

Two Set-ups

Though I didn't trade these two set-ups today they at least provide good examples for future reference. The first is WLT (my pick for Ragin's FinalFour Contest). This was a two-fer; two good, completely opposite, set-ups. The early decline led to a correction that peetered out on lagging volume creating a bear flag. Then, later in the day, a strong advance led to a correction that drew out a bullish flag, bringing on more upside on strong volume.
POT provided the second set-up early in the day, which was also a bear flag pattern.

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