Here’s When A Late Entry Might Still Be Considered
Sometimes it really is better
to be a little late, rather than never.
I personally prefer to be keyed in right at the actual
trigger, but sometimes when the setup has already been elected, but
the edge still looks promising as the trade has not yet truly fulfilled its
potential–then I say go for it.
In today’s trade, when the actual alert was
posted, BBH had in fact moved thru the trigger by .19 cents. In my opinion, with
the combination of intraday and daily chart reversal evidence in place, and
barely removed from the perfect trigger (as it is a volatile and pricey sector
proxy), this could still be considered a valid setup for traders that play
reversals. The one caveat here would be for traders to use a money stop before
the actual pivot point was broken (in case of a stop loss), or reduce one’s size
to offset the assumed risk for the slightly late entry.
11:07:39
Intraday Setup Alert
The Biotech HOLDRs (BBH)
has triggered out of a 5-minute chart
1,2,3 pattern low–off 1.69 at 138.33. The pattern lows are testing the
200-Day EMA.
As it turned out, it was better to ‘hold her’
late than never.
Chris Tyler