Hi MC. When you put on Long positions do you also do an analysis of the overall market conditions? How do you keep from selling your positions if the markets drops a large amonut? thanks for your help. JJ
Hi Pinoy - I am trying to understand your rationale for getting in as the 4/9 candle was not really a hammer and how did you know it would break the $60 resistance established around 10 days ago - I can sometimes understand by your notations on the charts but sometimes more explanation is helpful - I enjoy watching your trades - thanks - Tom
JJ,I sometimes look at the market environment but most stocks that I trade for long positions moves up/down because of certain catalyst. Having a defined stops keeps me from being emotional during tough market conditions.Tomt,Based on my analysis of the chart, the most logical TOP of the base is arounf $58. To $60 candle from last week or so are not significant price events.MC
Pinoy,What made the April 10 penetration of the $58 base different from the March 23?
Anon,March 23 was too early and there was not enough time for the stock to build a more constructive base.
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