Friday, October 15, 2010
RBY Short
With so many Gold miners looking bad the last few days, this is one that has already done a lot of the heavy lifting.
The blue line in my Trend Channel. The current stop is in the red box, but it moves down everyday with the trade and will start moving down a lot faster. It often is able to keep you in the trade during consolidations as well. The big red line is support that was broken (the heavy lifting). This line now represents resistance. I think you can move the stop at this point down to $4.05 or so, it'll probably be there monday. so the risk/reward, as long as you use risk management of 2%, is fairly decent if your broker will let you short it.
1 comment:
Brandt,
The amount of updates today is making my head spin a little bit. I love the updates but to many makes it hard to follow at times. Going up one second down the next. As a larger trend follower I am trying to figure out the bigger picture and ignore every 5 or 1 min move or even hour or day. Maybe some are using the info you give to trade quick but I find it hard as it is delayed info and the short 3C can change so quickly. Those 5 and 1 min 3C seem to switch so fast they do not pertain to more important trends we can catch bulk moves on. Also news of the day can be analyzed at the end of the day rather than during trading session as there is already so much going on. As 3C has shown news is already baked into the market and thus does not need to be given a lot of thought during the day. Just thoughts I had today on how we can improve the service, trading outcomes, and clarity.
I also look forward to when we are not tracking so many stocks and we focus on specific wows stocks. When you have 50 to follow it is easy to pick out winners and ignore losers and makes it imposible to pick one to trade.
Post a Comment