I picked the wrong Lopez stock. Yesterday, EDC and FPH looked like they held above their support. I bought EDC because... Well, I've always bought EDC! But if you think about it, I should have picked FPH because it will always look stronger than EDC since FPH is closer to its highs. Ugh, the force of habit! See, if you want a stronger bounce and you'd like that to come as soon as possible, you go with the one in an uptrend. Actually, FPH is moving sideways to up. That's definitely stronger than sideways to down, which is the current trend of EDC. For short-term plays, the reason why you want the stock that barely retraced is because in that situation, there are more people who will bid prices up rather than posting below then selling above.
Did that make sense? :P
I'm not saying that EDC won't be able to go back up from here. I'm just saying that FPH is more likely to reach 61.5 faster than EDC will reach 5.05. Prove me wrong, EDC? Haha! This serves as my lesson on strength and speed. ;)
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