I bought a full position in $CRZO, based on the chart below. The stock was one of my top setups last Sunday evening, and I believe it is as close to an ideal setup as there is. Regardless of this particular outcome, understand that I will take this setup every day of the week, so long as the broad market is acting reasonably well.
All trades are timestamped inside The PPT.
___________
___________
TOTAL PORTFOLIO:
EQUITIES: 66%
- LONG: 58% ($ATPG $CRZO $CSTR $GNK $HMIN $NANO $PAY $TIE)
- SHORT: 8% ($QID)
CASH: 34%
You probably not like the sector but GS I’m seeing an inverted H&S
am I right?
It could be, but it really needs to bottom here and make a higher low. It looks like it is trying to carve out a multi-month bottom.
Looking back at your posts on ATPG and specifically RIG. I have owned RIG since 45.43 and am up 45%. Do you have a price target on these (especially considering I have been shedding longs the last couple of days) but I feel like both have some room to run.
Trying to not be a pig.
Thank Chess, I always appreciate your stuff! (The videos are sweet too.)
I am not a huge fan of price targets. I think stop losses should be defined, but so long as the broad market is holding up, the general idea is to let winners run.
Thanks for the input… I’ll change over to trailing stops.
I know you are just in it for a trade, but be careful with this one. In one of their prior 10-Q’s they mentioned several times that “internal control over financial reporting was not effective.” In the same 10-Q the word ‘restate’ showed up 10 times. You do not want to get GMCR’ed here.