Monday, November 3, 2014

opened: MNDO, JRJC, JNUG

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.

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
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.
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

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