well regarding MMG, yes it has pulled back, but to me it still
has hope to form a bull flag since the pullback has been on super
light volume thus far. But again, have a stop in place in
case that doesn't happen. With these little stocks, they are much
whippier
otherwise one comment:
MMG is a sub $1.50
stock,that's just how these low priced stocks act, moving 6%
is nothing for these type of stocks. They are much whipper
then stocks over $10. I think too many guys here only play
the low priced stuff, because it's cheap and they can buy more
shares. While I think it's OK to play these low priced stocks
once in a while (they can be fun when they work because they tend
to move a larger %), you have to have a balance i.e. diversify.
Don't only play the low priced stocks, because you have to
have much wider stops, and they are much tricker. Play some
larger stocks, they tend to move better with technicals.
Otherwise regarding the choppy market, this is to be expected.
Remember Steve's triangle scenarios! Triangles
frustrate both bulls and bears and they are not good times to swing
trade because the market isn't trending. We just throw out
trade ideas when we seem them, we are a research firm. However that
said, remember one of our motto's, being flat and in 'Cash Is a
Position' don't think of it as sitting out! When the market
is going to be choppy, I cut my trading way back, well at least
swing trading. Now day trading like Kobie likes to do with
the ES is different, you are scalping for a few points, that's
not for everyone. Figure out what type of trader you are, day
trader, swing trader and adapt.
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well regarding MMG, yes it
Boring posts? On a day where the market basically went no where I made 95% return on capital!
Posted by matt on 9th of Mar 2011 at 07:14 pm
well regarding MMG, yes it has pulled back, but to me it still has hope to form a bull flag since the pullback has been on super light volume thus far. But again, have a stop in place in case that doesn't happen. With these little stocks, they are much whippier
MMG chart
otherwise one comment: MMG is a sub $1.50 stock,that's just how these low priced stocks act, moving 6% is nothing for these type of stocks. They are much whipper then stocks over $10. I think too many guys here only play the low priced stuff, because it's cheap and they can buy more shares. While I think it's OK to play these low priced stocks once in a while (they can be fun when they work because they tend to move a larger %), you have to have a balance i.e. diversify. Don't only play the low priced stocks, because you have to have much wider stops, and they are much tricker. Play some larger stocks, they tend to move better with technicals.
Otherwise regarding the choppy market, this is to be expected. Remember Steve's triangle scenarios! Triangles frustrate both bulls and bears and they are not good times to swing trade because the market isn't trending. We just throw out trade ideas when we seem them, we are a research firm. However that said, remember one of our motto's, being flat and in 'Cash Is a Position' don't think of it as sitting out! When the market is going to be choppy, I cut my trading way back, well at least swing trading. Now day trading like Kobie likes to do with the ES is different, you are scalping for a few points, that's not for everyone. Figure out what type of trader you are, day trader, swing trader and adapt.