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Stocks In Play: $DG
$DG was stock in play from Tuesday Dec 12, 2012 after it reported its earnings premarket. Looking at the 15 min timeframe , with the initial gap down, there was consolidation between 10:45-11:45 where a short position could have been taken with minimum risk against 44.75 for a next down move in the afternoon session which played out perfectly.
$DG second the day play Dec 13, 2012 ( reversal play in this case) . After the initial move down in the morning we had a higher low consolidation ,during 10:15-11:15 where long positons can be taken on by traders with stops under 44.65, as a higher low was established on the 15 min timeframe.
There was another consolidation between 11:30-12:30 where traders could have added more to their longs with stops under 43.20 for the afternoon push into the close.
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