Posted by wbarclay on 22nd of Jul 2011 at 08:57 am
I know NEWN popped yesterday (trade idea on blog), then fell way
back down, but now it looks like it is at support. I'm
thinking of buying here, with a tight stop for another pop up if
the market can hold up. Does anyone have opinions in terms of
where it may go from here short-term?
See notes on chart. Even though this stock had a nice rally,
this is not for me.....I call this type of trade a 'Cowboy'
trade.....a trade going against the major trend. The short term
moving averages are way to far apart from the longer term moving
averages for a trend change to take place. This is not for me.
http://stockcharts.com/h-sc/ui?s=NEWN&p=W&b=7&g=2&id=p91056936860&a=239951239
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NEWN - opinions
Posted by wbarclay on 22nd of Jul 2011 at 08:57 am
I know NEWN popped yesterday (trade idea on blog), then fell way back down, but now it looks like it is at support. I'm thinking of buying here, with a tight stop for another pop up if the market can hold up. Does anyone have opinions in terms of where it may go from here short-term?
NEWN Weekly chart
Posted by Tango on 22nd of Jul 2011 at 09:30 am
See notes on chart. Even though this stock had a nice rally, this is not for me.....I call this type of trade a 'Cowboy' trade.....a trade going against the major trend. The short term moving averages are way to far apart from the longer term moving averages for a trend change to take place. This is not for me. http://stockcharts.com/h-sc/ui?s=NEWN&p=W&b=7&g=2&id=p91056936860&a=239951239