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Gapper Dummy Trades - Garmin Ltd. ; Buffalo Wild Wings
By: Wall Street Warrior   Wednesday, July 30, 2008 4:43 PM
Sectors: Computer and Technology
Symbols: BWLD, GRMN
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Once in awhile, a stock gaps, breaks daily support on the open, and runs all day. GRMN was the prefect candidate on another earnings disappointment. Trader-X style. I'm almost certain X was in this trade today!

BWLD initially looked like it might form a bullish C&H, but all of sudden it drooped over and set up the perfect inverse C&H pattern at the whole $ dollar base. Thought it might fill the gap, so I held past the measured move, but then I decided to fold. This stock has such a wide spread at times, so if you don't exit when you want, you'll end up giving back too much in slippage.

 

 
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