Friday, March 2, 2007

A good daytrade sample from this morning: PALM


I rarely daytrade. Why today? Because I can't let this opportunity go while I remain cautious on the general market. Look at the past three days I circled it as comparing the three day performance of the general market: the first day is a Doji while the Dow dropped around 400 points; the 2nd day it rallied well closed at the resistance; the 3rd day once again it closed at the same resistance. It looks like it wants to go higher. I bought it this morning when it cleared $17, sold it at $17.9, where it filled the gap from last June and I pocket 5%. Surely it may go higher, but as a trader, I had a plan and I executed according to it, that is a good trade to me.

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