daytrade diaries... friday, page-108

  1. 14,951 Posts.
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    Superk, from a charting perspective what caught my attention with PPT was that it had fallen close to its last significant support level but held above it for two days of "basing" action. A big rise in trading volume often indicates some sort of climactic point in a down-cycle as the sellers dump the last of their holdings - that seemed to happen yesterday. The fact the bears couldn't drive the price down much lower yesterday also suggested a reversal was imminent. It played out beautifully this morning - pity I lacked the nads to stay on the horse! Good luck with your trade.
 
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