CMI bounce

[wallstreetsedge]

CMI looks ready for about a $3 bounce...

i think you can pick up the june 62.50 for around 5.50 and get out with a 40-60%+ profit over the next couple of days

[wallstreetsedge]

its dying for the bounce :D

[wallstreetsedge]

congrats to those who played.... huge return on that trade

[Riddicks]

Great freakin call, I didn't play it but darn. Could you just give me a mini gist of what you saw, that made you go hmm...that could look like it could go for a ride of over 10%.

Just awesome.

[wallstreetsedge]

normally when i play trades going out for a few days, i look at a few things...

first i look at a daily chart going back 3 months, i throw up standard bollinger bands, and i see how the stock performed with the mkt over the past 5 sessions.

the friday before i made the pick, the stock had a pretty nice down day on higher than avg volume which normally shows some sort of turn around. the bar also had a decent move between open and close without closing too far from its low of the day.

i made the recommendation based on this, volume was high, price was near lower bollinger band, rsi was oversold, and williams %r just dipped int oversold and was improving... confirming the move im looking for

my original target of $70ish, was based on the 5 day moving avg

on monday when i started looking to buy, the stock came off its intra day lows and closed significantly higher than its low. even though the down day was big, it was on high volume. rsi improved and wm %r stayed flat - another confirmation