I started late today so I missed the morning action. I found these nice 2IBs with declining volume at the base of the previous day's low. I decided to keep this one overnight, based on the guidelines from Stewie for overnight holds (ONH).
I have been paper trading the ONH for a little while, so today I decided to give it a go with real money (small size position).
2 comments:
hi anarco. I am sorry about that point loss on SU ONH but consider yourself lucky it was only a point and not 10-20-pts. small price to pay for a key lesson. I always always check earnings dates before i initiate ONHs. Better luck on the next one. High volume closes at HOD/LOD is the key and make sure sector/mrkt direction is favorable for confirmation. good luck.
Thanks Stewie!
Fortunately I have the discipline to try everything new with small size lots, so no big damage was done. I really like the ONH and the HG trades, so I am studying your charts and in the lookup for them!
Cheers,
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