Don't pay dollar to keep 2 cents when wrong. Cut your losses quickly. Trade what you see, not what you think.
Joined Oct 26, 2011
719 Blog Posts

You can’t help but be impressed with this morning comeback!

I’m duly impressed.

After selling some of my weak positions in the morning, I sat and watched to see if the bombs were still exploding here and there.  Surprisingly, the explosion began to die down and instead I heard roaring of the crowd.  For a moment there, I thought I was in the midst of a stock exchange hearing “buy! buy! buy!”.

With that kind of chanting, I’ve to buy something back as well!

I bought back $DNN (below what I sold for! High-Five!); $PACB, $BBRY.

I also bought $DCTH and $CUR (again!) because the price action looks like the bouncing is happening.

I added to $TINY.

Take a look at the daily $SPY chart below:

Price did not even reach my projected red-arrow price but instead proceeded to head up to create a nice green bar.  Isn’t that a beauty?  What I like is the fact that price action has immediately climbed back above the Giant Wall 1 proving that Wall 1 is indeud a solid support here.



My 2 cents.

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