Friday, March 23, 2012

New Position: WFM

I like the pattern of what has happened once this pulls back between the 13 and the 26 emas.    I have some hesitation that the impulse is still red but because the stock has rallied after hitting the 26 and is now at  a high of the day, I'm going to take a small position with a stop at today's low.

Bought the days high so a 0.0% entry grade.  But, this is a bet that the trend continues and I needed to see a bounce.  So I would have rather bought the high after a bounce than the low and hope for a bounce.  

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