bought 97, 93, 90 ,89 88, 200 each sold 200 each @ 90 and 92 , 400 @95, now looking for 98-99 for last 400. The plunge was awesome
Hello D, An interesting trading process, beyond my ability. Since your avg. PPS is 91.40 excluding comms., @ what point do you bust this trade should you not see the 98-99 range sought after? Will this become an O/N hold for a perceived bounce? The reason I ask is it breached the 20ema @ 89.46 on the daily & came back. What's to say it doesn't go south of it for good before your target is hit, what is the exit strategy in this case? That is if you don't mind sharing? TIA! Good Trading to Ya! God Bless! Kelly
Yes, I would hold it overnight. If it goes below 90, either today or tomorrow, I will look for an exit. 97 was too quick on the draw, I didn't give it enough time to wash the stops out.
I have been scalping this well today. An overnight hold on this after a blowoff of 25 % is way too risky. What about the PM that has a few hundred 100K for sale and is asleep at the switch today? Just my .02!
I like to give my fellow traders hints on what I think price action is showing. i.e RIMM I told everyone by the price action that it was going to 100 from 60`ish...nobody listened...I started this thread in the hopes someone would take the hint as well. I hope they did....
Gone long again @ 76 with 1.00 R, just going to hang onto it & see if an almost 40% Shellacking in 1 day & a morning brings back the Mo buyers for a bounce trade. Since the 50ma resides @ 68 & change. Of course I may be too early & it still punches that or retests todays LOD, before heading back up @ some point into this mornings gap. The 30min chart is showing a pretty steep decline with multiple red bars. Been very fortunate so far, lets just see what happens, eh! Stop moved to lock in a 1.75 here, & will let it ride to where it may. Thanks Indahook, don't worry I wont! LOL God Bless & Good Trading to All! L8R Kelly