Stefan, it all depends on what type of trader you are...If you are Jeff Cooper, you would have taken that 20% home, and moved on to another stock...You don't wait around for targets, you time entry well, you hit and you run..If you are a pattern player, like I am, at times, you wait until the stock hits your target and then exit..But remember these are 3 month targets, do you have that kind of patience...On SESI, I would have been out at 10.00, since the stock just sat there, while a whole lot of shares exchanged hands, that was distribution in action...If you would have done an overhead study, you would have seen the wall at 10.50, and realized that present volume levels would not take it out...Smart traders calculated that, and took their profits......Many books have been written on the art of selling, when you get some good ideas, please share them with me, since I am still learning this area....Why did you sell BNYN Mark and JAII when it is in breakout mode? Following your emotions again, when will you ever learn...Mark
P.S. when a stock spikes like MGXI, you can usually figure a 50% retracement to the 12.37-12.50 area....Note the pole, and descending flag, what we call organized profit taking...The flag should be on lower volume levels as you see happening... |
