McLean County's October Jobless Rate Climbs Again
Gold prices rise, other commodities mostly lower
Governors Urge Obama to Spend on Infrastructure
Hampton Roads' Jobless Rate Remains Third Lowest in Country
US soldiers re-enlisting because of poor economy
County Hits Highest Unemployment Rate Since 2003
Strong Performance By Opsec ; Stocks and Shares
Barack Obama Says That We Have to "Jolt" the Economy... [Derived Headline]
Retailers expect to report dismal November sales
World markets close mostly higher on US rally
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Short Side - Ctrip.com
By:
Wall Street Warrior
Tuesday, August 19, 2008 11:31 PM
Sectors:
Computer and Technology
Symbols:
CTRP
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This short trade in CTRP was a high probability intra-day setup based on a Fibonacci zone from a longer time period. CTRP made a strong move up at the end of last week following an earnings announcement. Today, CTRP violated the Fib 50% retracement of that move and setup a nice low-risk short entry against that 50% level. Often, a stock that can not hold the 38-50% retracement level of an earning move like this will end up giving back the entire move and sometimes more.
LVS was a gap down that setup a bear flag with converging lines. The action was somewhat sluggish (lack of big volume), but was good for a retest of the morning low.
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