well structured! as this little pullback is occurring about 12% of the 2950 offers have come off the table..smart $ removing offers ?
Right now the HWB 14.25 to rally high is 32 or so. A better high would be 55.75 as a HWB from there would fall right on that 35 that had been somewhat fussy resistance on the way back up. Given that triple into the high, a pullback to the 46's here and then an afternoon rally to that 55.75 would be choice ... unfortunately, it is not my choice, so anything can happen. Still long here and not calling for a short or anything like that .... my stop still at 43 and a pullback to the 46's here makes sense. Not nearly as clear that a pullback is coming as was the pullback at 10:50ish this morning. Not intending any more adds or scale-ins ... when its over, its over for me for the day. I do have profit taking limits at 51 and 55.50 just in case.
What should be easy for all to see now is that I am a support/resistance trend follower much like the Turtles. I will have some losses but over the long haul, I will have wins that vastly outstrip losses and are at significant leverage.
Street Smarts - another good book..turtle soup + 1. If I recall correctly their w/l was below 50%, but win amounts far exceeded loss amounts.