Thursday, March 5, 2009

Thursday trade - HNT


One of the most annoying trades is where you are right about market direction and timing but the stock you selected does not move with the market. I had one of those trades today and I think you can see what the missing ingredient was. The setup looked pretty good on 10 minute charts with a couple narrow range bars at the base of the open range but there was hardly any volume on the first bar. When a stock doesn't have unusual or at least normal volume it increases the likelihood that it will just drift and not follow the market.

Setup: 55

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