Tuesday Mar 3rd
Tuesday March 3rd
I'm looking for a short term bounce soon. We have been down for too many straight days and we are due for some relief buying. It might not last too long so don't blink.
In the meantime someone sent me a great explination of the credit crisis the country is facing, to watch the video, please click here.
I'm looking for a short term bounce soon. We have been down for too many straight days and we are due for some relief buying. It might not last too long so don't blink.
In the meantime someone sent me a great explination of the credit crisis the country is facing, to watch the video, please click here.
One area not covered in the Crisis of Credit video; governmental policies that helped start and promoted the extremely behavior.
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Oh so true!
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Any suggestions on unwinding the ROH bear call spread trade that was on Incometrader last week. This has gone badly since DOW came back in to the picture to buy ROH at $78 / shr!
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Hi Bill,
When the stock gapped open on strong volume and the closed above the resistance level on strong volume (3 days ago), this was your signal to close the short leg on the next morning and leave open the long leg.
Any time your stock breaks its trend on strong volume and then closes near the high for the day, it has reversed its trend and your orignal bearish trade should be changed the next morning.
Staying in a bearish trade when it reverses only leads to losses. Sort of like seeing the end of the road your driving down and refusing top turn the steering wheel in your car.
News changes everything and when news comes out and your stock breaks its trend on strong volume, it is telling us we need to act.
Hope this helps,
Mike
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