It may seem foolish to sell a winner only to see it go on and continue much higher. However, if you are a trader then Apple is a good example of why to often pays to sell into immediate strength and patently wait for your next entry.
Recall around Thanksgiving that we looked at the five-point symmetrical triangle daily chart breakout for AAPL, playing it long inside the 12631 Trading Service.
We played the stock well and harvested gains on December 5th.
Since then, the stock has done a whole lot of nothing, largely consolidating that breakout and weakening today.
While 2013 was a year which rewarded bulls pushing the envelope, when the tide eventually turns this type of simple concept–Being disciplined to sell into strength and reevaluate–will be beneficial.
What are you trading this morning?
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Watching PLUG very carefully this morning. Up on good volume last two days.
Hot one
closed out HCA, and watching RVLT to see if it hits the top of its triangle.
Great work
Are you looking at UNG against 20.50?
Yup
PRKR over 5 looks interesting.
Agreed
ZIXI over 4.65 and KEM over 6.22 perhaps worth a trade.
nice ones