http://stockcharts.com/h-sc/ui?s=Sina Look atbthis chart if SINA . If you look at i think july 22nd where it broke out of consolidation and just used a simole stop loss, you would have made out extremely well. This is a text book example of a breakout. No, i did not trade it. I didnt follow sina in july. Wish i had.
what's your point? everyone is the king after the fact. i can show you 10's breakouts like this each and every day. and so failed ones.it doesn't work this way(for me) . you create strict set of rules,code it-then you run it across stocks that meet your criteria for price and liquidity-then you come back and report the results. keep in mind-that it's pretty damn hard to trade those breakouts. hard to get into. and if you miss the entry or paid 'too much'-it will became loss very very quickly. i can say and point on many things today,which DID indicate that the gap up this morning will be faded hard. so what? did i profit from it? nope..at least i was 'bright' enough to hedge some of my longs before this 'gigantic'(by current volatility) move and carnage was started. look at the volume on IWM-at 10 am it's already almost half of current daily average. bottom line-any 'proof' of whatever will look much better and will give you a better picture of what you might expect in the future,if backed up with solid statistics base. other that that-it's cherry picking to me.
First off Bob, only a prick would answer a post the way you did. You have got to be kidding. But thats your problem. I specifically said i didnt buy the stock. What i said was this was a text book example of how technicals work and was meant for guys new to the game that arent that familiar as to why we look at charts. Did i hurt your feelings?
when you do what i suggest you to do-you might change your mind about whatever you trying to show a 'new guy' yea..i'm an asshole..and here is my favored song- http://www.youtube.com/watch?v=-o30wacwdoc
we got it all today-a fake breakout(confirmed by the spike in volume on multiple index ETF's) for a breakout lovers and then slow drift down into EOD off those resistance levels, that i've been waiting for whole day(off the highs that we got at open,before sell off)
Never understood the "every one is king after the fact", the dam stock would have traded how it did if you were part of the market or not. He was just showing a decent example whats the big deal, are you Surf lol.