In keeping with the last few posts, let’s start with a smaller win. And then we’ll see a much bigger one, because it was there for the taking and it would be rude not to.
Here’s the chart for GILD, which as we can see, started out badly:
This looked like it was heading south but…didn’t. Getting out at breakeven (plus enough to cover commissions) means we live to fight another day. There was no need to wait for another day as the next opportunity came on the very next bar, and this time there was enough momo to carry the thing down by a more reasonable amount. Exiting on the bounce gave a profit of $640.
The bigger win came from ZM. I’ve talked on this blog before about profiting from disasters (natural or man-made, it doesn’t really matter), so there’s no need to delve into the fact that ZM was scooting ahead because of what’s happening in China. Instead let’s just enjoy the chart.
This made more than two grand in about twenty minutes. Exit was on the big reversal which was easy to see in real time. It looks like there was more to be had for anyone trading the afternoon session, and of course, any stock that puts in this kind of one-day move is worth watching for a few days for some potential aftershocks.