As I have mentioned earlier in my blog, BRCM is likely to sell off from 19.00-20.00 levels. So here we are now. If it gaps down on Thursday, just wait till it tries to close the gap and short, if it gaps up, place a sell stop order below daily low (check out my page section to check out rules about swing trading)
Posts Tagged ‘BRCM’
BRCM (18.12)
December 17th, 2008
BRCM, KBH Trade Alert
December 16th, 2008- Short BRCM below 17.95. If it falls, need to close the gap at least.
- Short KBH below 13.60. Stop 14.70. Target 11.00-10.00.
BRCM (16.12)
December 15th, 2008My first swing trading idea.
[[BRCM]].
Even though it managed to close strongly on Monday, it looks like it is losing momentum. It has also formed a rising wedge on 15-min. chart.
There are 2 possibilities how to manage this trade:
- Look at the action Tuesday morning, if the broader market is weak, just short the stock at the open with the stop above 18$ and target at 15.00-15.50. Risk/Reward ~1/4
- Short below 17.00-16.80. Stop above 18$. Target 15.00-15.50. Risk/Reward ~1/1.5
Profitable Trading!
