MILKING THE COWS - RIMM
Posted: Wed Jul 18, 2007 8:08 pm
MILKING THE COWS - RIMM
RIMM is my new fav cow to milk. I traded RIMM a couple of years ago, so I know it's a good cow.
RIMM moves faster than AAPL, which suits me fine. You can sometimes get $1 or more per share in a minute or 2 trading RIMM.
The big money trade in RIMM takes a few minutes but pays off nice.
You wait for the 5 minute candle to touch dynamic support.
THEN WAIT FOR THE CANDLE TO CLOSE!!
That's right, wait for it to close.
Then look to see if there is a tail. If there is NOT a tail, then wait. If there is a tail, you can enter long. Notice, you can usually ride this trade for $1.00. That's one target. The other target is the 50 % fib retrace ( gray dot) of the dynamic support/resistance channel.
Or, if you are really GREEDY, you can wait for HORIZONTAL DYNAMIC RESISTANCE to appear before you exit.
You'll get about 1 or 2 trades an hour but there's plenty of milk in that trade.
For shorts, just do the same thing off DYNAMIC RESISTANCE.
The main thing about this trade is you have to have "trust" the system. Once you do, your pail will runneth over with milk!!
RIMM is my new fav cow to milk. I traded RIMM a couple of years ago, so I know it's a good cow.
RIMM moves faster than AAPL, which suits me fine. You can sometimes get $1 or more per share in a minute or 2 trading RIMM.
The big money trade in RIMM takes a few minutes but pays off nice.
You wait for the 5 minute candle to touch dynamic support.
THEN WAIT FOR THE CANDLE TO CLOSE!!
That's right, wait for it to close.
Then look to see if there is a tail. If there is NOT a tail, then wait. If there is a tail, you can enter long. Notice, you can usually ride this trade for $1.00. That's one target. The other target is the 50 % fib retrace ( gray dot) of the dynamic support/resistance channel.
Or, if you are really GREEDY, you can wait for HORIZONTAL DYNAMIC RESISTANCE to appear before you exit.
You'll get about 1 or 2 trades an hour but there's plenty of milk in that trade.
For shorts, just do the same thing off DYNAMIC RESISTANCE.
The main thing about this trade is you have to have "trust" the system. Once you do, your pail will runneth over with milk!!