Discussion in 'Stocks' started by NY_HOOD, Dec 11, 2008.
i think it has room to 30. i am looking for a quick scalp today particularly on any weakness. GMXR
Trend line on the 30-day chart shows GMXR ready to reverse course, but if you're trading intraday who cares.
in GMXR at 24.17. will sell at 24.70.
SOLD AT 24.70..GMXR is now at 24.98. had to take the quick .53 cents. had 1200 shares. i took the easy money as usual and stuck to my game plan. i am done for the day.thats what i do,i pick one stoc
GMXR on a tear. now at 25.70. man did i sell early!!!
Why didnt you just use a trailing stop? If you used the trailing stop, then you would have been up at least 600 dollars more on the day.
Let me show you what is going on. Its a Bollinger band whipsaw. Price sold heavy under the bottom line with volume and now there is two possibilites with the highest probability, the middle line or the top line. 26.61 or 36.12.
I know your trading prop. I would have set the trailing stop at 10-15 cents on the breakout and walked away from the terminal to go get something to eat.
The high of the day was 26.52 as of 11:41am and look at where the middle line (20 day SMA) is set (26.61). There was no real pullback until it hit that 26.52 mark.
Had a high of 26.52, not a good trade.
He made nice coin on the trade - just let him enjoy it - you worry about yourself
I have a feeling we might see much higher pricing soon on GMXR. Look at XLE, $WTIC and the Eurovsdollar.
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