Wednesday, April 27, 2011

New Trade - SCHW


Jeremiah 29:11 "For I know the plans I have for you," declares the LORD, "plans to prosper you and not to harm you, plans to give you hope and a future."

Finally, we have an edge in the market!
Here's the chart of SCHW:

This stock has recently been trading bullish after a good pullback about 1.5 months ago. Although this doesn't EXACTLY match my entry rules, the fact that the size of that buying tail, a bump in volume, and the MACD lines going up, all convinced me to get in at this time. The very next day it could easily hit it's target.

I'm not looking to make a ton off this trade, just a quick profit within a couple of days.

I bought the June 18 Calls for $1.00 and looking to hit the immediate overhead resistance as my target. My stop is placed just below the last low.

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