Below are the trades I loaded recently SBSTransit 500: Bought at $3.10 with a cut loss at $3.02
Broadway: Bought at $1.12 with a cut loss $1.01
SpComp: Bought at $0.855 with cut loss at $0.815 Recently, I’ve read the forums and many are still holding to hope. It is obvious to everyone that the current trend is down and instead of trying to time the rebound like yesterday, one could be in big trouble. The fact is the reversal does not make a trend go up. It is only an uptrend if it goes up within a specific time frame. One day is not enough to prove anything. At the moment, it is risky to load counters (my gut feel tells me so), but according to my scans, there are still a couple of counters that hit the radar. SBSTransit is lying on its support line for a long time and it broke out. Short term trends look healthy although strength in trend is not large enough. Broadway rebounded from its ultra short support line (5day) and its still healthily moving upwards despite the recent market downturns. Long term trend is upwards. However, this is an instance where I potentially entered late in the trend. SpComp triggered my buy signals for both short and midterm. While the upside potential is unclear, what is clear is that this is a start of a new trend in the midterm. If you look at the bigger picture, its high has been eclipsing the previous high, and it might signal a reversal in the long run. This further act as a safety net for the entry. Labels: Broadway, SBSTransit, SpComp |
