With the Nasdaq slipping today, it was once again a stock pickers market, on both the long and short side for this day trader. SWIR held up. My stop is at 13.83, which is a pivot low on the 5-minute chart from 01/11/07. I’m trying to give this stock some room.
An online stock trade in RVBD treated me decent. The stock has been strong, and my gut said it had more in it. I took the break of the base on the 5-minute candlesticks, and sold at the trendline on the daily chart. Hit and run.
RIMM, which was mentioned yesterday, had a fake breakout over the last pivot high of 128.22 from yesterday. The stock popped at the open. I’ll buy over the 2-minute, or 5-minute high if I think the stock has momentum. I was watching CROX 
at the time, and missed it. RIMM dove south fast, which I should have jumped on. Those false moves are often the biggest keys to a stock’s direction. Watch for them.
MPEL moved through trendline resistance, putting in a higher high and low.
BOBJ I thought about shorting yesterday at the close. It gapped down, bounced hard, and provided a short entry. The wide range bar, it left on the hourly chart, had me cautious. I also placed a conservative stop over yesterday’s last pivot high on the 15-minute chart.
TOL and the homebuilder stocks have to decide if they’re going to break those trendlines.
Keep GROW on the stocks to watch list, as it is trading near that significant 50-day moving average.
