How did I found these trades?

Today was a pretty wild ride, if price action discount everything, it certainly did today.

SPY started out my 238% extension.

45 minutes before close. At Google Finance (http://finance.google.com) you can see the following:


Financial has the highest percentage move, but I already long UYG, so I passed
Energy is next then followed by Basic Materials

In Energy, I found PBR


which also moved above 8 MA and 50 MA, 30 minutes before close that confirmed a W-3 or W-5 move.
stop is placed 0.20 below the low of yesterday.

I also like ACI and RIO both making higher highs and higher lows and moved above 8 MA and 50 MA. All three stocks showed entry for long on my oscillator.

I looked at PCX, CNX, XOM, COP none of them made the confirmed Wave moved nor making higher highs and higher lows.

Next is Basic Material, looking over the "Most Active" section, I found FCX moved just above 50 MA but not yet 8 MA, however my own oscillator showed the entry for long. I already have a long position in GG. My stomach is not read for POT and MON again, so I will pass, since I have GG in gold there I won't want to hold ABX.




All my entries today have Accumulation/Distribution value > 60 and at least 1:1 reward to risk ratio to their previous high.

Trade Safe.

shorts:
longs: ACI, FCX, PBR, RIO and still long GMCR & GG

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