Tuesday, April 21, 2009

4/21 Day/swingtrades - FAZ, BAC

Yesterday's weakness didn't last very long at all. The bulls are determined to keep this uptrend intact.

FAZ - This gapped up at the open but unfortunately, the opening range could not hold. I let go half at the low of the opening range low and closed out the position when the bounce off the moving averages could not hold.


BAC - This settled into a brief narrow range and then printed a hammer off the moving averages. I like this setup because the narrow range allows me to increase the position size while still managing the same risk. I closed out the position for an even $0.50.



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