Yeah that whole sector was ridiculous. Waaay to much competition (and overhead for gosh sakes) fighting for a piece of the same pie.
So today I lost a little of Monday's gains but so far so good. SRPT is UP 1.1% in the after hours. This chart looks like it's about ready to launch. If I were being critical of my entry I would say I truthfully should have entered on Mon when price was in the low $34 range but I chose to stay away with the recent weakness in Biotech. Today the early price action made me chase a bit. I will probably move my stop up a bit and consider adding a small amount more. We will see what the charts tell us. As far as BAC is concerned I have held this on my 401K since September 2016 and done quite well. Now looking to get in for this Journal and my trading accounts but it keeps going Up and Up. Like I said I HATE CHASING.... So I will force myself to be patient and wait for a pullback but this is one I really like too. The chart looks a bit overbought on the short term and expect a small pullback soon....HOPEFULLY. For those keeping tabs my position sizing rules mean I have about 60% of this account in the market with only these 4 trades. That is typical for me as I try to enter as close to the stop as possible. I usually only have about 7 trades on at a time. If I have time I will post SRPT charts later. If anyone is actually reading this it might be a discussion worth having if someone ELSE posted the Charts with their own analysis to see why I think this is so Bullish from a TA standpoint and see if they agree... Trade what you see, Eganon
Thats like Tiger asking me for some feedback on his golf-swing. But I'll cheat. You must be doing something right. You're keeping pretty good company with Investing dot com's algo's. https://www.investing.com/equities/sarepta Your GDX matched up too btw.
Since I have a shorter time frame (using 50 delta options as my vehicle) I would wait until a stong break above 35.48 on the close (Just my method). SCTR and ADX line look good and IBB coming off the pivot low is looking healthier.
LOL....I have never actually spent much time on that site. I did look at all the trades in this Journal and interestingly enough they all match my current trades. I SWEAR,...I did not get my ideas from this site. Kind of funny.
Yes ADX line looks good as well as SCTR. But I am not familiar with IBB. What is that?? Do you mean Bollinger Bands??
Oh,...LOL. Yes I am familiar with that one. Yes I think its important to match trades with the sectors strength. But more importantly I try to find strongest sectors or sectors that are heating up and then find the strongest stocks within those sectors. If I think some stock is too risky I may invest in the ETF but usually I try to pick a stock stronger than the sector ETF.