This Is Why You Should Watch The Time Of Day

  • December 14, 2004
  • Tsutae Kamada

It is not humanly
possible to trade all day long without taking a rest. As you know,
some traders lock in profits just before their lunch break. Needless to say,
it’s bad for your stomach if you are worrying about your opening positions. 

11:46:56 (From TradersWire)



Action Symbol Order Type Setup Stop Current Price
Sell CTXS Market

negative stochastic divergence

 

 25.57 25.47

Shortly before lunch time, I noticed Citrix
Systems (CTXS) hit the high of the day. But, the stochastic was negatively
diverging. There were also two candlesticks suggested the stock might be forming
a top. Look at the 15-minute chart. You can observe the negative divergence of
the stochastic. The stock also formed two consecutive bearish tails.

12:08:55

Follow up on CTXS
(11:46)

Cover half of your position to lock in a 12-cent profit. Move stop to breakeven.
 

Have a nice afternoon session.

T.Kamada

If you have questions, feel free to mail them to me.