Any thoughts if Dig continues upward I have some calls
sept 80's purchased on Frid and not able to be in front of
the screen on tommorow and looking for any advice if I should exit
or ride for a few more days? Thank You
I just remembered something, DIG gapped up, and
then backtracked into the gap, and rallied again, this is very
bullish, and I, personally have raised my stop to below the gap, if
it really wants to move, it should not take it anytime soon, also,
close to lower rim of the gap can be a low risk entry
point
The gap you refer to, yesterday's, was a
breakaway gap(gapped over a downtrend resistance
line) -- as I noted yesterday. Many other breakaway gaps were
made in energy stocks too, i.e.
CHK,
PBR. Significance - breakaway gapups usually
lead to a nice rally without the gap being filled first.
I stand corrected,
DIGdid fill its gap yesterday before quickly
taking off again, so it didn't make a breakaway gap but did make a
breakout from its downtrend. Today it gapped out of a
month-to-date rectangular base.
Trades are winning trades or losing trades precisely because of
price action. Therefore your preference for following price
action does not contradict the traders' aphorism to sell your
losers and let your winners run.
Posted by dallahoo on 21st of Aug 2008 at 01:26 pm
I was referring to your earlier post where it felt like I was
being lectured about the terminolgy of gaps that can be found in
every dime-a-dozen TA book
Hello googool, well if you bought your DIG calls on Friday, then
they should be up nicely! Well in the short term the negative
I see is negative divergence viat the 15 min chart of DIG,
therefore I would not be surprised to see some kind of
pullback. If you have nice gains, then lock some profits
in. However over time I think DIG will work its way higher,
next target is 90 and over time up to the 50 MA in the upper
90's. So in the short term I could see a little pullback, but
then I think it will go higher
matt, thak you for thinking of me, I guess the question was
asked by another poster, as for myself, I think DIG is coming out
of a C wave, and looking good. Too soon to say if we get another
abc set or not,
And yes, I have done double dip at the lows and releasing the
second dip at the top, so far so good.
BTW, take a look at RIG, it's coming out of a triple correction,
if it breaks, it may go nicely
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dig
Posted by jackson on 20th of Aug 2008 at 07:17 pm
Any thoughts if Dig continues upward I have some calls sept 80's purchased on Frid and not able to be in front of the screen on tommorow and looking for any advice if I should exit or ride for a few more days? Thank You
jackson - see my response to
Posted by matt on 20th of Aug 2008 at 10:08 pm
jackson - see my response to DIG below
DIG
Posted by googool on 20th of Aug 2008 at 11:05 pm
I just remembered something, DIG gapped up, and then backtracked into the gap, and rallied again, this is very bullish, and I, personally have raised my stop to below the gap, if it really wants to move, it should not take it anytime soon, also, close to lower rim of the gap can be a low risk entry point
DIG
Posted by martin on 21st of Aug 2008 at 09:31 am
The gap you refer to, yesterday's, was a breakaway gap(gapped over a downtrend resistance line) -- as I noted yesterday. Many other breakaway gaps were made in energy stocks too, i.e. CHK, PBR. Significance - breakaway gapups usually lead to a nice rally without the gap being filled first.
well this one got back
Posted by dallahoo on 21st of Aug 2008 at 09:43 am
well this one got back in the gap, look at 15 minute chart
I stand corrected, DIGdid fill
Posted by martin on 21st of Aug 2008 at 11:36 am
I stand corrected, DIGdid fill its gap yesterday before quickly taking off again, so it didn't make a breakaway gap but did make a breakout from its downtrend. Today it gapped out of a month-to-date rectangular base.
I 'rather make money by
Posted by dallahoo on 21st of Aug 2008 at 11:47 am
I 'rather make money by looking at price action, not prasing text book definitions
Trades are winning trades or
Posted by martin on 21st of Aug 2008 at 12:14 pm
Trades are winning trades or losing trades precisely because of price action. Therefore your preference for following price action does not contradict the traders' aphorism to sell your losers and let your winners run.
I was referring to your
Posted by dallahoo on 21st of Aug 2008 at 01:26 pm
I was referring to your earlier post where it felt like I was being lectured about the terminolgy of gaps that can be found in every dime-a-dozen TA book
Hello googool, well if you
Posted by matt on 20th of Aug 2008 at 08:57 pm
Hello googool, well if you bought your DIG calls on Friday, then they should be up nicely! Well in the short term the negative I see is negative divergence viat the 15 min chart of DIG, therefore I would not be surprised to see some kind of pullback. If you have nice gains, then lock some profits in. However over time I think DIG will work its way higher, next target is 90 and over time up to the 50 MA in the upper 90's. So in the short term I could see a little pullback, but then I think it will go higher
matt, thak you for thinking
Posted by googool on 20th of Aug 2008 at 09:13 pm
matt, thak you for thinking of me, I guess the question was asked by another poster, as for myself, I think DIG is coming out of a C wave, and looking good. Too soon to say if we get another abc set or not,
And yes, I have done double dip at the lows and releasing the second dip at the top, so far so good.
BTW, take a look at RIG, it's coming out of a triple correction, if it breaks, it may go nicely