Monday, January 21, 2008

Four Day Trades

Last Friday I spotted some great day trade setups as they were happening. AAPL was consolidating around 164.64, then broke down:
RIMM broke down at around the same time, it was consolidating near 89.90. Notice both the AAPL and RIMM breakdowns had bear traps:
At around the same time, First Solar broke out above $174, shooting up to $180.
Later in the day, First Solar formed a triangle pattern, and broke to the downside:

First Solar isn't quite as liquid as RIMM or AAPL, with roughly a 30 cent spread. It is also more volatile. Despite this, I think it could be a good day trade candidate.

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