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Strategies & Market Trends : John Pitera's Market Laboratory
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roguedolphin
The Ox
To: The Ox who wrote (17180)8/24/2015 1:14:12 PM
From: John Pitera3 Recommendations  Read Replies (2) of 33421
 


As I had commented on AMBA to you...... we had a complete cover of the short put on at the125 ish level and slight long buy at the 200 dma ..that order went in the day of the short. so this morning it fell to 71 several points below the 200 dma for a few minutes.... but the general discipline of the trade with the tight stop loss and a well defined target to get out.... so that worked out well.

it's not always rocket science.... some of the relative KISS strategies work.... the most salient aspect is to not overtrade..... and focus on the discipline of Money Management, diversification....

Message 30163095

AMBA is my pick of the week for a stock that can be shorted at a potential double top at 128 in June and 129 on Thurs and closing at 124 and change...... one can put a very tight stop at 132.75 or 135.55 and sell on Monday looking for decline to the 100 area at a minimum but I really expect it to go back to it's mid 70's level and the 200 dma.


JP
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