bum,
re: CYD
>>If the stock gaps up at the open about 6 cents or more<<
my question is which price on the prior bar do i use as the baseline number for adding the 6 cents to?
if i use the prior bar's closing price of 15.74 as a base,,,
would that not give me a target of 15.80 or greater?
if i use the 3~5 bar reversal spec sheet,,
>>3. THE ACTION; BUY THE STOCK WHEN IT TRADES 1/16 TO 1/8 ABOVE THE PRIOR BAR'S HIGH.<<
i would use,, 16.06(the high of the day) as a base and add the 6 cents there,, for an entry of 16.12 or greater?
and i see ur instincts,, which i trust more than the 3~5 bar spec sheet even more,, calls for an entry of one tick above the prior bars high,, of 16.07.
still, my ramblings, are just to see if i understand the process\procedure in the 3~5 spec sheet.
i also am puting some of "condition of the market",,, hunches on this, i am very leary of the outcome tomorrow based on the current state of the $vix, but as i watched the evening news,, i saw that cbs market watch lead-in,, was,, the price of oil opened lower,,, but a look at CLZ04 shows it basing around 47.15,
as long as the price of oil stabilizes,, i look forward to a good week
thx
sam |
