There were a couple of decent MOMO burst type set ups and the gold miners put a reversal after getting pounded so I put on an m/r trade on in JNUG.
MNDO:
A break out with an earnings gap, Good volume. If the gap holds, this could be a runner. Not crazy about the fade but it held up ok. Right now its a "meh" trade.
Entry: 3.28
Stop: 3.10
JRJC
This former momo darling set up great and now put in the range expansion move. Its trading action is what I like to see as it closed near the HOD (which I had the pleasure of buying 6.25). If it finds some volume 7 looks to be the first target.
JNUG
I bought this as a mean reversion trade. It had some nice action today after being destroyed over the last 2 months a range expansion after a tight dojo move can sometimes signal a bottom. I'll stop at 4. prior day's low.
Some caution is still in order as a similar type move failed the next day in the end of September. If it holds it could move quickly to 8-10
No comments:
Post a Comment