Picking Your Spots
When stocks break down, it is usually not in a straight line for an extended
period of time. However, when you spot the downside action, you can pick the
spots to enter that will increase your chances for success. Tuesday’s example of
Cabot Microelectronics
(
CCMP |
Quote |
Chart |
News |
PowerRating), provides us with a good example.
10:13:59
Intraday Setup Alert
Cabot Microelectronics (CCMP)
is moving off its low in a counter trend rally. CCMP is now down 3.04 to
71.06.
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The stock breaks down for more than 8 points over the course of
the day’s trading. When stocks move this much in one day, there is usually more
than one spot to enter a trade. If you miss the first move, don’t despair – have
the patience to continue to stalk. It will pay off for you.
Until tomorrow,
Duke