Wednesday, June 29, 2011

Keep VRML on your radar

Late yesterday I brought up the VRML (long) trade idea, I didn't have a lot of time and just wanted to follow up a bit.

This hourly chart shows the price consolidation, a solid breakout should lead to an interesting move.

I rarely see 60 min charts this strong.

Keep in mind this is a speculative trade, but there are a number of places a stop can be placed with fairly low risk.

Also keep in mind that I personally view any double digit gains within a day as a market gift, and I usually book at least enough to guarantee a profitable trade, the rest can be managed with a trailing stop.

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