I played SLW four times yesterday, looking for it to go higher on the strength of the Bull Flag breakout and the bullish daily chart, but without success. The stock temporized and formed two more Bull Flags (in orange and in green), so I threw the trades in. It would take too long to explain the four plays that I made and the execution sheet is as long as my arm, but I had a loss of $1,175 on the session.
SLW is called gap up at the moment, at BID: 40.60...ASK 40.68, above the 40.52 high on this chart. Oh, now-w they're going to rally it! Gr-r-r...LOL. I won't chase that.
2 comments:
Beautiful bull flag examples.
I usually expect AM gaps to close but PM mining "related stocks" seem so undervalued and suppressed.
Who knows if today's move begins a major multi day catch-up?
I wouldn't have played it either.
Thanks for the insights and Have a great weekend!
Jim
Jim,
Yeah, I don't like to chase those gaps. It ended up filling the 40.07 gap in the daily chart to the exact penny. The session low was 40.08.
Have a great holiday weekend!
Post a Comment