Hi Alex - first occasion to read your letters as a subscriber and I LOVE it.
One question. You decided to sell HALO in order to stay within your exposure limit. Were there other reasons too to weed out this one? To me, it still has a strong profile for a potential move upwards. I went long about the time you did a few days ago.
Honestly, I'll probably bit myself for selling it, there was no technical or fundamental reason other that I wanted to reduce exposure, but at the same time keep my full ENPH position to get good exposure to the solar sector. If you can keep it, it is not showing any red flag or violations....so a good one to keep that I might revisit. I would simply be careful around 48.58$ as it's base top potential resistance. So just to keep in mind.
Thanks. I will probably sell it before close of play today - a good rise will be very welcome - as I am very nervous keeping an open position over the weekend. There are just too many spinning plates ...
What I like to do is selling 1/2 the position into strength, so like right now before wknd to reduce risk, and then use ema's to trail the rest of the trade. You secure a profit, and then you try to catch the bigger move with 50% your position. It's now a stress free trade (for me at least)
EOD = End Of Day (sorry I should make a glossary loll)
I used STOP/LIMIT terms last night to refer to the type of order to use in order to enter at the pivot. If the entry is lower that the current price, then it's a LIMIT order and if the price is above it's a STOP order.
Correct for VIR
For GTLB, you have to consider the nature of the beast... it is very volatile and moving very fast as it made 100% move in 4 days in March. Then you also have to see within the structure where we are, we just retested the WB DTL and we're right BELOW recent swing high...so if we were to take out that pivot (54.50) we would be looking for a HH (higher low) and a protection by placing our SL at the low of the breakout candle. So, compared to a MSFT or IBM, yes it's a wide % extension from ema...but not compared to the way this stock moves. You can also reduce your position to adjust the risk to this volatility.
Mhh VIR never trigged his 26.81$ pivot entry and never showed strength at the 25.37$ pivot that would have given us a limit entry on it. In all cases, we closed below the pivot and at a loss, so I would have close the trade EOD as per my rules.
Hi Alex - first occasion to read your letters as a subscriber and I LOVE it.
One question. You decided to sell HALO in order to stay within your exposure limit. Were there other reasons too to weed out this one? To me, it still has a strong profile for a potential move upwards. I went long about the time you did a few days ago.
Hello! Nice, glad you love it :)
Honestly, I'll probably bit myself for selling it, there was no technical or fundamental reason other that I wanted to reduce exposure, but at the same time keep my full ENPH position to get good exposure to the solar sector. If you can keep it, it is not showing any red flag or violations....so a good one to keep that I might revisit. I would simply be careful around 48.58$ as it's base top potential resistance. So just to keep in mind.
Cheers!
https://www.tradingview.com/x/ZZt4TTGI/
Thanks. I will probably sell it before close of play today - a good rise will be very welcome - as I am very nervous keeping an open position over the weekend. There are just too many spinning plates ...
What I like to do is selling 1/2 the position into strength, so like right now before wknd to reduce risk, and then use ema's to trail the rest of the trade. You secure a profit, and then you try to catch the bigger move with 50% your position. It's now a stress free trade (for me at least)
Check this article out if it interest you.
https://primetrading.substack.com/p/primetrading-education-article-entries?r=mst4k&s=w&utm_campaign=post&utm_medium=web
Also, keep in mind that biotech stock always have more overnight risk than any other type of stocks.
cheers!
I just sent the Slack invite at your sub email address btw. see you there ;)
Thanks and I have just accepted it.
Wrt HALO , sold @48.4 , close to the resistance level you mentioned. I am OK with that.
well done!
Hi, thanks for a great service. I got a few questions.
EOD is that a ticker or is it short for something else?
Why is it written "STOP" after some tickers on the focuslist? I didnt see that before.
VIR, is it correct understood that if it goes down to 25,37 it is good entry?
GTLB, isnt it quite extended from it MA10 to be a good entry? It feels like chasing...
Cheeers
Hi!
EOD = End Of Day (sorry I should make a glossary loll)
I used STOP/LIMIT terms last night to refer to the type of order to use in order to enter at the pivot. If the entry is lower that the current price, then it's a LIMIT order and if the price is above it's a STOP order.
Correct for VIR
For GTLB, you have to consider the nature of the beast... it is very volatile and moving very fast as it made 100% move in 4 days in March. Then you also have to see within the structure where we are, we just retested the WB DTL and we're right BELOW recent swing high...so if we were to take out that pivot (54.50) we would be looking for a HH (higher low) and a protection by placing our SL at the low of the breakout candle. So, compared to a MSFT or IBM, yes it's a wide % extension from ema...but not compared to the way this stock moves. You can also reduce your position to adjust the risk to this volatility.
Anyway, sorry for the long answer hahaha
cheers!
https://www.tradingview.com/x/iLNGNaKz/
Hi Alex, thanks for the answers. Don´t appologize for long answers, I like that :)
About VIR, how do you handle SL on a trade like that? LOD doesnt seem like a good strategy...
Mhh VIR never trigged his 26.81$ pivot entry and never showed strength at the 25.37$ pivot that would have given us a limit entry on it. In all cases, we closed below the pivot and at a loss, so I would have close the trade EOD as per my rules.
ok. Then i think i got it. It crossed 25,37 but it should also have crossed up over it again, right? And that would had been the entry?
ps. I never bought it...
Yep more like a BORS or BORL setup at this level.
You should have :P loll!