Yeah, I know. I am stubborn. But come on, look at that chart! Sooner or later this has to fade, rewarding patient shorts. Enter only on weakness, this has ran a lot further than anyone could have imagined. Possible gapper up with early strength, so watch out. Once it weakens, you will know it, so just be ready. Hard to find and practically short such a Pinkie, admittedly.
LTBR
One day wonder prone stock that exploded upward for 60%+ today is on watch for a fade entry on weakness or profit taking dumps. Up after hours. It has powered past the low 9s where it has had some resistance before. Closed on hod. I would look to scalp this long early if it rips out of the gate. If it can be watched from premarket, that is advised. As usual, when the time comes, this is going make a great fade play.
ETRM
Still looking to fade this on more stalling momentum, if an opportunity presents itself. Bulls hope it will retest 0.80+ before any cracking. Down a tad, after hours.
STAA
Overtook mid upper 5.30ish level of resistance to break out. Possible early red to green mover if it fails to gap up. Needs to hold 5.30 as a new floor for the longs to stay on the offensive. Down slightly after hours.
MDF
Swing pick. Pull back to 50 day moving average, around 3.65, a support level it has essentially held on a few tests recently. Idea is to time this bottom and bounce as a long, exiting in a few to several days from entry. Buy the dips and sell the rallies. Exit on close above the 5 SMA possibly. Watch the Dow, as this is important in determining the odds of success in practical terms. You are looking for a sync here, not a divergence.
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3 comments:
T: on june 22, TD strategy desk shows me three candles for EMIS, one 930, 15:15, then 15:35. five minute chart.
same thing you showing?
T: you wrote: "Buy the dips and sell the rallies" , At the time how do
you know when a stock is dipping or continuing to bottom? How do you judge it is stopping its decline, hence buy the dip!? thanks, your blog is great!
First Anon:
No, I show more data than that on the same time frame. I am not sure what you are seeing on your 5 min chart.
Second Anon:
You Don't.
You can try to time the rough bottoms and use assumptions of bottoming levels via holding support of a critical MA, but you do not have a crystal ball that assures you of it being a true bottom before a clear move up.
You are doing calculated speculation here, as in all trading...
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