I like that JAZZ tune
Wednesday Recap:
CAEI – trade didn’t trigger. Continues to pull back on light volume, I will keep this one on the radar for volume spikes should the Chinese stocks that have been so hot recently, regain favor. I will also pay close attention to see how it acts if it continues to drift closer to its 9 dma.
JAZZ – exploded soon after the open, I got a small piece soon after volume hit at 3.75 and added more through 3.80. I was a bit disappointed it wasn’t able to fight through intermediate resistance at 4.10. This is the problem with trading biotech stocks off technicals. They often move so fast they invite in flippers and manipulation. This led me to flip some JAZZ to lock in a portion of the gain and I will give the rest a little bit of room to see if we can push through 4.10 and perhaps fireworks to take place.
Looking forward to Thursday:
