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Charts, Stock Picks, and Technical Analysis from an Online Stock Trading Veteran

May 22, 2007

Trading WYNN DUG OIH SPWR

Filed under: Online Stock Trading — Online Stock Trading @ 10:26 pm

You woke up a happy camper if you held MGM - MGM Mirage overnight. I trade two other stocks in the sector, LVS and WYNN, so popped them on the radar. WYNN provided this online stock trader with an entry using the 5-minute chart. A steady pullback for six bars, with the buy signal on the seventh bar, gave a risk - R of .60. The low of the fifth bar was used as a stop.

wynn-052207.jpg

I also bought some DUG on a reversal bar. We’ll see if OIH follows through to the downside tomorrow. Oil inventory numbers should provide a catalyst for movement. SPWR showed strength today. I was a buyer.

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