Here's a 10 min. chart of SKF. Very volatile, very liquid and always offering opportunities.
I want you to notice how SKF paints a pretty good picture of what i have been discussing the past few weeks about open and closes and how that's where either trends get stronger or reversals take shape. Time your entry right and hopefully get a few good trades out of this sucker.
good trading.
2 comments:
Hey Stewie,
What do you look for when trading SKF? Is it purely jumping in and following the momentum? SKF rips hard both ways, which has prevented me from using any real size in it. How do you deal with holding your positions?
Thanks,
Socal
hi socal. i think the key with SKF is pinpointing a good entry. i usually trade skf with 300-500 shrs and FAZ with 1000 shrs. they both move fast and you want to be confident with the entry. best to get with momo then try and jump the gun and get in too early cause it will be a scary ride. i also try and get my stops in fast after i'm $1 in the money and try and lock in a gain. my ideal entry for a LONG trade in SKF is to get either one a noticeable breakout of resistance on good volume, i also like to eye ball c, uyg, bac, gs to give me more confirmation as what the other stocks are doing. another ideal enrty is after a sustained selloff in skf, pinpoint a good risk/reward enrty and test a small position and add as you are proven right and get those stops in.
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