This is a pick from HCPG. I am currently evaluating their service to see if it is going to match my trading style..
The trigger entry for CMP was $74.00 and I liked the setup because CMP printed a very nice IB that closed near $74.00. I placed my STOP BUY order at $74.02, but the stock moved fast so I was filled at $74.12. I took a partial at R2, and exited my position at the low of the next reverse bar. Most of my charts were very choppy today so I did not want to stay in this position longer than necessary. A very small gain, but a gain indeed.
6 comments:
I was stalking this stock too. Its crazy how it jumped up so quick. On the T&S the ask went from $73.99 to $74.24!
Same exact thing happen on TTEK which was a pick from WallStreetWarrior this morning. I use stop-limit orders so I couldn't even get filled on this one.
About a month ago I started using stop-limit orders but I ended up not getting filled in a lot of my trades. So at this point I am mostly using stop orders. Sometimes the entries are not where I would like them to be, but it all seems to work out for the type of setups that I play.
Cheers,
anarco
Maybe buy lower than the hcpg in, like 73 or so.Maybe they have a large following. Let us know how it goes
73 was possible as an entry on this, but you really had to have conviction as it gapped up, only to drift lower / close the gap.
It's not really that HCPG has a huge following, it's just that CMP as a stock can have wide spreads and trade erratically at times. There are also many types of entries people could have used on CMP @ 74.
I also see the 74 being the area where the down trendline (April 22nd through last thursday's high is confirmed.
Hey bl~
I see your point.
7/15 could have been a possible entry for me on a regular day. But on this type of choppy market, I would have passed. I am playing it safe these days.
Hi MD~
I do not normally follow these types of stocks. If you look at the 1 min chart, you can see price jumping all over.
But the HCPG folks did a great job on this one so it provided a little profit.
Cheers,
anarco
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