A five-hour stretch of tedium in the shares of LinkedIn provided a perfect opportunity to hunt for profitable trades on the very lesser charts. In this instance, ‘lesser’ means down to the level of the five-second bar chart, where we were able to get long or short almost at will. LinkedIn had opened on a bullish gap, leaving us with the potentially lucrative task of getting aboard for an almost certain follow-through leg. The session will be of particular interest to traders in Europe, since there were many nearly riskless opportunities to profit from Nasdaq ‘momentum stocks’ in the middle of New York’s night.
