Yes when stocks gap up way above their breakpoints, we pass on
the trades. We try to buy as close to the breakpoint as
possible and don't chase gaps; unless they are breakaway gaps and
MOT is not a breakaway gap.
now as far as taking a Shot at or close to $7, yes that would be
an objective Long trade, but with a tight stop just a little below
$7. So I hope this answers your question.
Yes when stocks gap up
MOT
Posted by matt on 30th of Jul 2009 at 12:00 pm
Yes when stocks gap up way above their breakpoints, we pass on the trades. We try to buy as close to the breakpoint as possible and don't chase gaps; unless they are breakaway gaps and MOT is not a breakaway gap.
now as far as taking a Shot at or close to $7, yes that would be an objective Long trade, but with a tight stop just a little below $7. So I hope this answers your question.
Title: 15' gap rule Would you
Posted by jd111 on 30th of Jul 2009 at 12:33 pm
Would you consider a breakaway if it makes new highs after the first 15'?