I didn't have losses until AH - that's when it tanked. My
stop was set appropriately. To reiterate my question - what
to do when it tanks after hours?? It closed at around 1.20
and is now trading around 0.80 or so. So this was not an
issue before AH today.
Posted by junkmaylbox on 9th of Jun 2009 at 06:55 pm
Lucy, If something happens after hours, you could not do much.
You did the right thing: get out as soon as you could. I was saying
that there were signs of weakness before today, on the chart.
Recognizing them is an art, which comes with experience.
Posted by junkmaylbox on 9th of Jun 2009 at 06:47 pm
I understand. On one hand, you could not have predicted this
tanking tonight: it's an act of God, so to speak, which is not
found anywhere on the charts. On the other hand, it was not moving
up like it should have been _before_ today. The daily chart shows
signs of distribution... If this were a gold stock, I'd re-enter it
after its price dropped more tomorrow. Because it's a banking
stock, I would take my loss and move on. I hope my critical
comments help. Good luck!
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I didn't have losses until
CNB
Posted by lucy on 9th of Jun 2009 at 06:35 pm
I didn't have losses until AH - that's when it tanked. My stop was set appropriately. To reiterate my question - what to do when it tanks after hours?? It closed at around 1.20 and is now trading around 0.80 or so. So this was not an issue before AH today.
Lucy, If something happens after
Posted by junkmaylbox on 9th of Jun 2009 at 06:55 pm
Lucy, If something happens after hours, you could not do much. You did the right thing: get out as soon as you could. I was saying that there were signs of weakness before today, on the chart. Recognizing them is an art, which comes with experience.
I understand. On one hand,
Posted by junkmaylbox on 9th of Jun 2009 at 06:47 pm
I understand. On one hand, you could not have predicted this tanking tonight: it's an act of God, so to speak, which is not found anywhere on the charts. On the other hand, it was not moving up like it should have been _before_ today. The daily chart shows signs of distribution... If this were a gold stock, I'd re-enter it after its price dropped more tomorrow. Because it's a banking stock, I would take my loss and move on. I hope my critical comments help. Good luck!