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  • Friday, August 19, 2005

    The Sports Authority : TSA

    TSA traded to 33.76 today after some wild swings.Opened at 33.00 traded down to 32.22 then traded back up through the open to the weekly resistance line of 33.78. Well .02 cents shy of it anyway.With the combination of options expirations and earnings I'm sure that made for a wild ride for some.Notice on the weekly chart TSA made a recovery through it's 20 period MA and is now trading back up towards it's upper bollinger band.I think it still has some room to go if it gets thru this 33.80 level and holds.Might make for some good intraday plays next week if the volume keeps up.Be careful though,that thing can have a nasty bite if your not nimble on the keys.
    I did manage to squeeze a small scalp out of it today: Long at 33.13 ,sold at 33.30 and 33.39 . We'll see if this thing can get through this weekly resistance or not next week.I have it on my Trade-Ideas scanner set for 5 minute highs/lows, 15 minute highs/lows, and 60 minute highs/lows. If it offers up some volume next week I just may bite either way up or down considering it is on the NYSE Short Pilot List.Keep in mind it did have earnings today,which will always create more volume than usual and some vicious swings.The trade I took in it today was a very close prime setup,but I did have some other factors in the NYSE book setting the trade up for me.Good trading to everyone!

    This post is in no way suggesting a buy or sell,I'm simply looking for good scalping opportunities with volume that fits my own criteria.From time to time I will look at the weekly charts to do that.


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