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DAY TRADING


Trade Of The Day-Exodus Communications [EXDS]

08/01/00 10:46:12 AM
by Jayanthi Gopalakrishnan

When it comes to day trading, it's a matter of being there at the right time.

Security:   EXDS
Position:   Buy

Usually I restrict my trading during the lunch hour slowdown but EXDS appeared on my new high/new low screen at around noon and I took a look at its price chart. A distinct triangle had started to form and volume looked like it was increasing in strength.

I decided to enter a long position if the following conditions were met:

1. Prices broke out above the triangle,
2. Volume was strong, and
3. The candlestick patterns showed a strong bullish reaction.

Exodus Communications [EXDS] provided a great trading opportunity today (8/1/00).
Graphic provided by: Tradecast Securities, Inc..
 
At 12:05 pm (EST) all of the above three conditions were met and I entered a long position at 45 11/16 and placed a stop at 45 9/16. As you can see the trade was in my favor. I exited my position at 47 1/4 only because I had surpassed my daily goal. The signs were still bullish and I could have still held on to my position for a little longer and made a greater profit.



Jayanthi Gopalakrishnan


Title: Editor
Company: Technical Analysis of Stocks & Commodities
Address: 4757 California Ave SW
Seattle, WA 98116
Website: Traders.com
E-mail address: Jayanthi@traders.com

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