AMRN traded today thanks to @jgwilson929 +$1300

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.

 

AMRN

 

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 !!

jstantrades

Posted in Charting & Analysis, Commentary Tagged with: , , , , ,