Imo, it really depends on what your timeframe is. If you're
looking to hold possibly longer than a few days, then watch that
1320 area. That's an area where a lot of shorts shorted. If that
area becomes support, we might slowly melt up to that 1365 zone.
Just have a stop in place.
Check out hazbin1 post on 1/31/11 to see the stats on this. I
was only wondering if anyone thought this would continue. If it
holds true again you would buy sometime today and see if the same
pattern holds true again.
Does anyone think the first
Posted by randy on 28th of Feb 2011 at 09:59 am
Does anyone think the first trading day of the month ( tomorrow ) is going to continue the recent trend of a strong advance ?
Imo, it really depends on
Posted by cw12 on 28th of Feb 2011 at 10:29 am
Imo, it really depends on what your timeframe is. If you're looking to hold possibly longer than a few days, then watch that 1320 area. That's an area where a lot of shorts shorted. If that area becomes support, we might slowly melt up to that 1365 zone. Just have a stop in place.
Check out hazbin1 post on
Posted by randy on 28th of Feb 2011 at 10:19 am
Check out hazbin1 post on 1/31/11 to see the stats on this. I was only wondering if anyone thought this would continue. If it holds true again you would buy sometime today and see if the same pattern holds true again.
randy, just interested to know were you would put your stop if you are wrong?
Posted by kobie on 28th of Feb 2011 at 10:23 am
...not saying it cant go up tommorow,just want to know how much pain you are prepared to take if it goes the other way.
What do you think the
Posted by traderdave on 28th of Feb 2011 at 10:14 am
What do you think the best way to play this is Randy?
taderdave, this is not the right place to innitiate new longs...
Posted by kobie on 28th of Feb 2011 at 10:19 am
factoids
Posted by hazbin1 on 28th of Feb 2011 at 10:19 am
fwiw stats: last 14/16 1st day of month up, last 7 up. last 3 of those +1% gap up open (courtesy sentiment trader)
randy, thats not a good strategy to base your trading on that!
Posted by kobie on 28th of Feb 2011 at 10:11 am