http://www.uglychart.com/2006/08/30/qlogic-corp-qlgc-lifecell-corp-lifc/ Beauty is in the eye of the shareholder Sun, 07 Sep 2008 04:11:23 +0000 http://wordpress.org/?v=2.6.1 http://www.uglychart.com/2006/08/30/qlogic-corp-qlgc-lifecell-corp-lifc/#comment-1363 ugly Thu, 31 Aug 2006 13:07:13 +0000 http://www.uglychart.com/2006/08/30/qlogic-corp-qlgc-lifecell-corp-lifc/#comment-1363 Thanks Dave Rx: good point about QLGC being extended - I thought about that too Thanks Dave
Rx: good point about QLGC being extended - I thought about that too

]]> http://www.uglychart.com/2006/08/30/qlogic-corp-qlgc-lifecell-corp-lifc/#comment-1362 Rx Thu, 31 Aug 2006 10:14:57 +0000 http://www.uglychart.com/2006/08/30/qlogic-corp-qlgc-lifecell-corp-lifc/#comment-1362 IMHO, QLGC setup actually seemed riskier than LIFC. The reason is the action from prevous few days: QLGC was already quite extended with the run it had the day before, while LIFC just managed to break through that recent resistance at 29.90 during the 1st bar and confirm strength above 29.90 with the second bar. True, QLGC's setup in intraday-only basis was better than LIFC's (especially considering the longer upper wick of the 2nd candle of LIFC setup), but considering a bit wider picture clearly shows increased risk for QLGC. With this in mind, I would've probably raised my stop to breakeven (at least) after the 4th bar. That's just how I would have seen the setups. Just my 2c. Good trading though - maintaining discipline is NUMBER ONE. IMHO, QLGC setup actually seemed riskier than LIFC. The reason is the action from prevous few days: QLGC was already quite extended with the run it had the day before, while LIFC just managed to break through that recent resistance at 29.90 during the 1st bar and confirm strength above 29.90 with the second bar. True, QLGC’s setup in intraday-only basis was better than LIFC’s (especially considering the longer upper wick of the 2nd candle of LIFC setup), but considering a bit wider picture clearly shows increased risk for QLGC. With this in mind, I would’ve probably raised my stop to breakeven (at least) after the 4th bar. That’s just how I would have seen the setups. Just my 2c. Good trading though - maintaining discipline is NUMBER ONE.

]]> http://www.uglychart.com/2006/08/30/qlogic-corp-qlgc-lifecell-corp-lifc/#comment-1360 Dave Wed, 30 Aug 2006 21:02:04 +0000 http://www.uglychart.com/2006/08/30/qlogic-corp-qlgc-lifecell-corp-lifc/#comment-1360 That seems like a decent day for August. I got stopped out of BOOM today. That did look like a nice setup in QLGC. Good job following your rules! That seems like a decent day for August. I got stopped out of BOOM today. That did look like a nice setup in QLGC. Good job following your rules!

]]>