It was a boring afternoon in the futures market until this excitement. Since momentum/volume trading is an interesting topic, I thought I would post this chart.
Here is the chart for AMRN mentioned in our chat today. @jgwilson929 alerted the room when it was falling initially just above the $8 level, he had a 6/8 call spread.
Without thinking I reacted, $8 level, watch for support. I bought on the bounce around $8.25 and rode it risking a stop on breaking $8 or conservatively on a new low below $8.15. AMRN proceeded to rally back to the breakdown. Score!
I took it off once it broke $8.50 (a bit early) and waited to see where it would top out. Shorted $8.75 with a break out over $8.85 stop just on price action, ended up stopping out $8.65.
No indicators. Just price action and market behavior. +$1300 :D. Thanks everyone.
Then Stockguy22 puts me to shame on FIO for 19%. <sigh> Way to go !!
See ya !!