Sunday, August 10, 2014

Closed: Stopped out of CRR

Not a surprise here.  My stop at 104 filled at 103.92.  It then got hit and it again traded down to 100.85 before staging a reversal. This was a reactionary trade  that I was too soon.

I should mention that CRR did put in a nice bounce, I would not surprised to see the bounce continue. The follow through on Friday's move is the time to play look for a move to 115...without me.

I should note that the bounce of 2nd test of the 100 low might have been a decent place to attempt an entry.  The risk was probably low because you would know to get out immediately if it failed.

On that theory let's look at  Thursday sell off  to  Friday's rally.

Friday.   Boot and rally. But look at that volume on the close.  That ain't joe 6 pack.

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