Thursday, June 30, 2011

Daily Review - SalesForce

Didn't take a trade yesterday and only took 1 trade today.  Market is still not very kind to breakout trading and best to be patient, especially with a long weekend approaching.  

Got long 600 shares CRM at 148.00 with stop at 147.70.  I took a little less risk on this trade because market was very extended and volume on CRM was average.  Exited 200 shares at R2, 148.75.  Dumped the rest at 147.85.  

CRM offered a great entry on 20EMA/5min chart around 147.70 with stop at 147.40.  Textbook hammer on support and very low risk.  I missed the entry but the type of setup to look for when breakouts aren't clean.  



Don't see myself making another trade and taking tomorrow off.  Enjoy the long weekend.

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