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Biotech / Medical : Arena Pharmaceuticals (ARNA) -- Ignore unavailable to you. Want to Upgrade?

To: wolfgangrene who wrote (1908)	11/7/2013 1:04:34 PM
From: The Ox	Read Replies (1) \| Respond to of 2274

My numbers are simply a high % point for going long. Not always accurate, to say the least.... but they tend to be pretty good places to look at taking a position. For example, in today's action, if you had jumped in front of the falling trend you would have lost .18 but the rebound was worth .75 from 175.90. Often, I'll not jump in on the first touch of the number but wait for the start of a rebound before taking a chance. Doesn't always work but you do have a higher % chance of a profitable trade. If you had waited for the return to 175.9, then the stop would normally be placed slightly lower than the low of the day with my system. However, I'll often pull the trade before it hits the stop if it's heading back down toward the low of the day. Just a mention, not suggesting this is the best method out there. It works for me, more often than not.