Posted by breakout123 on 2nd of Dec 2009 at 10:52 am
I was watching CNTF and entered a position when the price
crossed the 3.77 breakpoint on huge volume. It then pulled
back below the price I purchase it (3.84) and is now where I bought
it. Should I have waited for addition high volume
bars before entering. Any thoughts or advice for this newbie
trader?
just remember that the market is pretty tricky up here, on
Monday it was very oversold, but it is now overbought, we have to
be on the lookout for longs that give false breaks. It you
took CNTF, jut put a stop in place that you feel comfortable with,
or on days like today, personally if a stock doesn't follow
through, I just get out. CNTF had a spike up and didnt'
follow through, etc
on the watch list longs, I said last night to have stops in
place and to be cautious of a false break
CNTF
Posted by breakout123 on 2nd of Dec 2009 at 10:52 am
I was watching CNTF and entered a position when the price crossed the 3.77 breakpoint on huge volume. It then pulled back below the price I purchase it (3.84) and is now where I bought it. Should I have waited for addition high volume bars before entering. Any thoughts or advice for this newbie trader?
just remember that the market
Posted by matt on 2nd of Dec 2009 at 11:03 am
just remember that the market is pretty tricky up here, on Monday it was very oversold, but it is now overbought, we have to be on the lookout for longs that give false breaks. It you took CNTF, jut put a stop in place that you feel comfortable with, or on days like today, personally if a stock doesn't follow through, I just get out. CNTF had a spike up and didnt' follow through, etc
on the watch list longs, I said last night to have stops in place and to be cautious of a false break
CNTFdoes look weak here but
Posted by ditch on 2nd of Dec 2009 at 11:13 am
CNTFdoes look weak here but this pull back is on light volume, $3.55-$3.60 should be strong support as that is were the big volume bought in!
sometimes those big volume spikes
Posted by matt on 2nd of Dec 2009 at 11:19 am
sometimes those big volume spikes you see on 5 min chart market tops, I call them sell spikes
CNTF is climbing now on
Posted by steve on 2nd of Dec 2009 at 11:02 am
CNTF is climbing now on decreased volume so you must be aware that it could reverse. Have a plan and execute upon it.