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MC

VRSN - Verisign

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2008.06.25-VRSN-Daily.jpg

 

Broken head n' shoulders do the downside. Light volume on the break so do be cautious, but I'm in for a paper short on this.

 

Weekly also seems to show rejection on the attempt at a new high.

 

IMO of course. ;)

 

Thoughts?

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MC,

Here's my 1 minute review while working an ES trade...

 

attachment.php?attachmentid=7175&stc=1&d=1214414121

 

 

 

In the above chart, I see:

 

Possible support area here w/ the Bollinger Band and previous attempts to break this. I would love to short BELOW this level.

 

 

attachment.php?attachmentid=7176&stc=1&d=1214414121

 

 

In the above chart (bigger timeframe), I see:

 

The Bollingers and Candles can provide some trades, but you can also get caught into a trending move that just moves up/down the band. Entry method would be vital here.

 

=======

 

In other words, I can see why you took a short here. I can also see reasons to be a bit hesitant on shorting here as well.

 

We'll see how it reacts on the FOMC, if at all.

 

I know nothing about this stock so hard to say 'based on' statements.

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MC,

Here's my 1 minute review while working an ES trade...

 

attachment.php?attachmentid=7175&stc=1&d=1214414121

 

 

 

In the above chart, I see:

 

Possible support area here w/ the Bollinger Band and previous attempts to break this. I would love to short BELOW this level.

 

 

attachment.php?attachmentid=7176&stc=1&d=1214414121

 

 

In the above chart (bigger timeframe), I see:

 

The Bollingers and Candles can provide some trades, but you can also get caught into a trending move that just moves up/down the band. Entry method would be vital here.

 

=======

 

In other words, I can see why you took a short here. I can also see reasons to be a bit hesitant on shorting here as well.

 

We'll see how it reacts on the FOMC, if at all.

 

I know nothing about this stock so hard to say 'based on' statements.

 

I have a plan for 1 scale in and then a tight stop since I'm being aggressive on it. Lil pop on FOMC but light volume so far.

 

Thanks for the input. :)

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Volume was moderate on the bar so it did have some buying pressure. Time will tell, I have the stop in GTC and embrace the full risk. (It's paper but for all intents I would trade this the same live at this stage of my education)

 

:)

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I didn't have time to reply yesterday, sorry.

 

I'll say this I scaled out 1/2 and moved the stop to $39.75 on the last half.

 

$39.26 is my cost basis. An aggressive 1st entry and then a higher scale in as planned.

 

Like I said though...again I'm on paper guys, just to be 100% forthcoming.

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I was stopped out quite some time ago on this play, proof I need to work on my stops and continue tweaking some. Did anyone get in on this tanker?

 

big.chart?symb=vrsn&compidx=aaaaa%3A0&ma=1&maval=21%2C50%2C200&uf=32&lf=1&lf2=0&lf3=0&type=4&size=3&state=11&sid=51464&style=350&time=7&freq=1&comp=NO%5FSYMBOL%5FCHOSEN&nosettings=1&rand=8882&mocktick=1

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