AFG broke out and comments

    Posted by matt on 23rd of Dec 2011 at 11:10 am

    AFG - broke out, however again as I've discussed before, this one has been on the trade idea list since last week now, it was near the 20 day MA last week when we posted it, which was  pretty low risk are to buy it with a tight stop vs waiting for it to rally $1.5 higher before buying it today - the 20 MA was 35.5 last week vs the 37 breakout today.  Again, when you can, look to buy the long ideas near support levels inside the stock patterns (if you see a logical support area and if it looks good on an intra day chart such as a 15 or 60 min chart) that way you are entering the trade with a better risk/reward.  Many of our stock ideas have been really good patterns and so they end up breaking out eventually anyway, so the odd are generally in your favor, and when you can enter near support you can have ultra tight 1% - 2% stops losses vs 5% - 7% stop losses

    As you may have noticed, this fall I started pointing out a lot more of our trade ideas out when they were at support vs ONLY at the breakpoint.  I plan to focus on that more this next year and point out when our trade ideas are at support so that you can think about entering early if you wish

    Matt, much appreciated when you

    Posted by frtaylor on 23rd of Dec 2011 at 11:52 am

    Matt, much appreciated when you have pointed out trades that are at support!  Thanks.

    that wold be great

    Posted by 8899 on 23rd of Dec 2011 at 11:48 am

    i for one would really appreciate that...thanks matt

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