Mark, basically the stock makes a two month high on day 1...
The high low price difference for that day is the highest in the past 10 trading days....
On day two, the stock does not continue with its momentum, but ends up taking out the day one low...BJCT did, it hit 1.75 on day two for a low...
On day three, four, or five, buy when the stock takes out the day one high by 1/32..day one high was 2.21....Technically, I bought early, I should have bought when the stock takes out 2.27 on the bid...
However, all that volume, the highest in 1 1/2 years with no downward bias, told me, this could be the beginning of the big move...
Remember if the stock does not take out 2.27 REAL SOON, this was not a slingshot, but only some shares exchanging from one house to another...
However, I have been hanging around since I believe this was accumulation before the big pop...They were not able to hold the stock under 1.75...That shows me most of those shares were subtle accumulation....I will either have played this one brilliantly or will go back to drawing board to see what I did wrong...
Regards, Mark
P.S. You have to be a detective in this business to win, and win big.. |
