Homework for September 27-Buy on Support
Sep 27th, 2007 by Trader-9
CHNR has daily average volume around 100K, broke out on 9/24, pulled back for two days. Enter at 13.05 above previous high, stop loss below 10ema at 12.45, target prior high at 15.75.
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I am comenting as per Tony!
I like the daily chart, and I will be looking at this stock tomorrow and on Monday to see if it sets up a trade. My trade plan is a little more complex due to an event I have to attend tomorrow and on Monday, so I will have to take the best price (if at all) when I am able to watch it.
Tony, Do you think the volume of this stock is too thin – not tradable?
wow, perfect entry – it came right back to that 7/9 top area of S/R. i’m probably gonna ride your coat tails here – thanks!
Trader-8: It may make you feel better if you know it’s a paper trading. I do pick up my homework stocks very carefully, however, since it’s a new trading method for me, I paper trade them – may change my mind some day.
“Tony, Do you think the volume of this stock is too thin – not tradable?”
It is OK for small positions, but may need skill with order entry for positions over 300 shares to manage stop losses. Cannot use stop market or stop limit. Need to mannually close position. Key thing is to buy weakness on bid and below bid orders and sell strength on ask and above ask orders. Ask in class for more details.
What an animal this am, missed entry cuz of gap, then it ran. I wish I could have entered on Friday, but wasn’t here.
you’re my hero! if you’re a chick?
you wanna get married? nice action! :0
The only problem I have with this trading plan is that the price target was way too conservative. I mean why take only a 24% gain when the stock gives you 90% in two days? j/k
Hopefully ASTI will do the same, so I’m sticking with it
Wow!