POT played Pong all day within a $1 range. The setup I took was around 11 am where price bounced and retraced off of $118 (those are nice 61.8% retracements that end up looking like inverted H&S patterns, some call it a "Phoenix"). There was also a nice one towards the close, where price retraced a little more steeply than the other, but was good above $118.5. This range was very tradable today, with shorts/longs based on the bollinger bands and the whole & 50-cent increments. I need to recognize this behavior earlier on in the session.
RIMM has a $65 pivot
...and as such, price consolidated narrowly under this level this morning. The first move to $65 was a fakeout and looked to be breaking down from an ascending triangle (a measured move from which would target the lows of the day). Being that price didn't give up much ground from the apparent breakdown, it was still looking bullish. My entry was $64.89 and my target was $65.75 (based on previous resistance) and I actually held the entire way.
Unfortunately I didn't short the double top back down to $65, and beyond.
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