SPY gapped down and rallied up immediately after the open but POT sold off and closed below PDL but had a lower tail. 2nd bar was a doji inside bar. Entered on the break of the 2nd bar. This was a risky trade because of the 5-day EMA and $94 support just below it. Price sliced through the support on high volume and closed very weak. It then formed a bear flag and I exited completely at S2.
FSLR gapped below PDL and tried to rally with $SPX but found PDL and 5 EMA as strong resistance and sold off hard. 4th and 5th bar consolidated near the ORL and on low volume. Entered short on the break of 5th candle low. Took partial at 50% FE measured from the top of the 3rd - 5th bar low. Covered the remaining a little above 100% FE.
2 comments:
POT: nice work with explantion. Healthcare ramped from the open: aet hum ci wlp cvh...no pos. Do you trade Gaps or have a WL of how many?
Hi Bl:
I mostly trade stocks on my WL of around 40 stocks, sometimes gaps. I do not have any health care stocks on my list at present. Any 2 stocks you recommend?
Bl, mind sharing how you do you pre-market preparation? Did you know in pre-market that the health care will be the sector to watch today?
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