BMY - Short
Nope. You're not gonna find a chart today. I only show the winners (mostly) and BMY was a looooooser. Entered on a break of the 12:15 bar low (:15), despite the little voice in my head saying "what the hell are you doing? Don't you see the lower tail on the third bar?" While it was troublesome, I figured the 'craziness' had settled down by my entry.
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6 comments:
I did the very similar thing on ITU too, and -1R loss.
I had in SRE...I did it to fuel the daemons/gremlins...I felt that if I get a small loss out of the way...I can cut down any building up of a blow out in the future...
maybe small losses are good...
today OONR method didn't work for me. oh well, there is another day.
It has been making me money for 6 months now..
I say fade one's fav poster boy stock on big down/up days: bidu cme aapl rimm...the usual. Or go etf: moo twm. Too many gappers to bother and putz around with: esi coco mbi were about it. Not worth it and may be changing of gears is necessary with diff mkt conditions. My 2 cents.
lp: you know, I think you're right. BMY was a decent setup but I think I traded it just 'see what happens'. If I had a watchlist with other good candidates, I might've passed.
bl: that really does sound like a good plan.
anon: sorry to hear that.
In my weekly watchlist i have about 40 & daily gapper could be another 40 but i didn't see any low risk setup,BMY was in my list but i avoid it for its 10.15 candle that was so wide & ambiguous i let it go.like your blog.
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