Don’t Make The Situation Worse — Here’s What I Mean
Ego aside, especially with
more than a few light volume contra-moves happening as traders await The Fed–this
really wasn’t so bad in the scheme of things.
09:21:41
Ahead Of The Curve
Petrokazakhstan (PKZ)
broke below angular supports on increased, above-average trade in yesterday’s
trade. This action also has the stock below price congestion, and
testing a 62% Fibonacci retracement level, as well as its prior highs (see
chart). Traders might look at a price break below 26 as a potential short, as
the next testing area on the daily chart looks to be around the 25.25 – 25.50.
As Dave Landry likes to say, ‘No Tickee, No
Tradee.’ Oops, my bad for sure–but the situation could have been made a whole
lot worse by taking a trade that never triggered in the first place.
Chris Tyler