Thursday, June 18, 2009
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11 comments:
As Yoda would say, "One up day does not a trend make."
Great call Stewie!
I found a nice spot and jumped in.
right on jamie! :-)
what was the major thought behind this setup. there are lot of pullbacks which stop with 20 dma.
do you also filter for top moving sector.
bill
bill, this was a holy grail setup. i talk about these on my blog all the time. strong stocks that pullback to the test the 20 day MA in an 'organized' manner usually are successful. i do not use any filters but i am sure, it's very possible to filter to find this kind of setup.
see this: http://www.hardrightedge.com/wizard/tl2.htm
indeed, nice call. why do you think this one worked where as joyg or thqi failed (or have yet to move)?
mt_ppr
this pattern was evident in many chinese adrs, CTRP, CYOU and some others. All of them paid big if you played it
mt-ppr:
joyg is not a very strong momo stock like FUQI. But i think joyg should work if you give it a couple of days. stop would be under recent lows.
anon: that pattern is called a Holy Grail Setup(HG). i made tons of posts on them over the past 2 years. and you are right CTRP offered a beautiful one a couple of days ago.
BV...as a profitable trader would say, "It doesn't matter if you're right about the trend, it's about managing risk to make money" lol.
4pts in two days and it reversed from a 3 day down trend on the hourly.
Way to catch it and ride it Stewmeister. Home run.
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