Day 2

MORNING MOVERS, SECONDARY BREAKOUTS

XOMA was the priority this morning. I asked John why XOMA, and what his plan was during the trade:

XOMA pre-mkt vol was identified using the Nasdaq pre-mkt movers site

Jan 4 2011, 8:32 AM

John Lee: gap was plotted on the daily, it showed a full gap above nearest consolidation

John Lee: well, it wasn't going to the 200-day ($5.25)

John Lee: the next option was for the upper band

John Lee: which i believe it still hasn’t hit yet

the rare earths were all mixed and the other stuff wasn’t really cutting it

John Lee: XOMA was the only one remaining for candidacy

Jan 4 2011, 8:34 AM

cath_campbell: yeah, the BB on XOMA is 7.21 according to Freestockcharts...

cath_campbell: yeah, and John mentioned the huge volume in XOMA in the first few minutes! that means huge buying interest!

John Lee: after only the first min of the day, XOMA already exceeded yesterday’s vol

 First entry was at open on first green candle as massive volume was coming in.  Took a quick scalp for small profit.

Re-entered on break of consolidation triangle @ 6.495

Followed Cathy's heads up that consolidation range was tightening.  Entered late, as ideal entry was around $6.65 - $6.67

Also took a quick scalp on RCP

Sold off some swing trades that are not materializing.
1/2 of VISA for 3% gain
TASR for 0.8% loss
Bought some MOTR