Sprint is sprinting

In the last post I vowed that technical analysis was going to win over fundamental. Seven or eight bankers sitting in a stuffy, cigar smoke-filled room talking about the economic policy of their respective countries is no longer my idea of a good market entry signal.

On March 13, long before this nice rise in equities, I bought 2000 shares of Sprint Nextel, thanks to technical analysis.

I used my trusty trade triangles (which have helped my account to +49%) to help me enter the trade. On March 12, we were issued a monthly UP triangle. Soon after, a weekly UP triangle, and today...a daily UP triangle! (Clicking on the chart gives you a clearer view):