Last week we tried to get into Abraxas, but the hammer pattern didn’t hold by the end of the trading day. Don’t shy away from this one, because the stock has reached yet another support level on high volume.
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Equity Oracle: 06/10/2011
We like to trade the gap strategies and AXAS is giving us a nice opportunity for a short-term profit now that the gap has filled today. Most of the time a stock will reverse direction after the gap is filled; however, you need to be mindful of your stop loss strategy.
Equity Oracle: 06/04/2011
There are some bullish signals showing up for the S&P ETF (SPY) and I think we are about to see a short term rally in the market. The inverted hammer at a role reversal support level is a good indication that the bulls are getting ready to charge. Our stop level would be at a […]