Monday, March 21, 2011

UAL Intraday Bouncer 3/21/11

UAL had a nice bounce today after dropping over a dollar from the open high of $23.62. There was some better than average volume that came in, with a nice long shadow on the highlighted candle signaling the bulls were trying to fight back the bears. A good buy-in would have been right above the high of the highlighted candle at $22.68. I probably would have sold after the weakness after going up 1% in under 5 minutes, but if you rode it out you could have made 3-4% in about a half-hour. I just would rather be safe in such a volatile situation, as the stock can turn downward and with force very quickly. Though with the markets being up so much today, it might not have been a bad gamble to hold and see what happens.

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