In this FREE instructional video, Big T discusses the short last week of ZANE which was available at least TWICE as a play with a nice set-up, particularly the first try version. This is a very good lesson for study.
A blogger called this perfectly on Monday, March 15, for the session on Tuesday in which ZANE gave an entry signal short. http://www.welcometothegutter.com/2010/03/video-trade-recap-for-315-and-watchlist.html Observe the high volume on the failure of 2.75 on the first entry cue day in the morning.
A typo in the video is when I say "our former resistance is now support" around the 3:00 area of the presentation. This should say, "our former support of 2.75 is now resistance", brain/mouth failure...my bad!
A trader in the Tim Alerts chat room made an instructive optimum entry error on this play, entering at a more discretionary level, even though one can argue here that ZANE should fall much further than his 2.45 area.
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1 comment:
Nice video on ZANE. Yeah it has a tendency to do those big morning spikes...which is why I would've covered EOD if I had played that 2.75 break. Plus I have a rule not to hold shorts overnight if they close near their lods....I've seen too many morning spikes after that
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