I missed a lot this week, didn't I? I mentioned in my previous post that I got sick so I decided to stay at home for the whole week last week. I didn't intend to not follow the market but my internet was down starting last Tuesday so my week off turned out to be a full fledged vacation with no eyes on the market. I have a lot of catching up to do. I was just thinking about what my game plan should be. A lot of the stocks on my watch list last week went up already. Be calm, be calm! I told myself. What should I do then?
This is my Game Plan:
1. Do not chase prices or stocks that already went up. Wait for a flag or a correction for entry.
(PIP, GMAP, EDC, DMC, FPH)
(PIP, GMAP, EDC, DMC, FPH)
2. In the meantime, look for stocks that are showing promise of finding momentum SOON.
(CHIB, EEI, SCC, LPZ)
(CHIB, EEI, SCC, LPZ)
2 comments:
Hello Christina,
didn't know you're ill,I hope that you're A-okay now. Goodluck on your trades. For the issues that's on item 1 , what's your entry price?
regards,
Chambeng
Hi Chambeng! It's good to hear from you again. Thanks, I'm A-okay now. :)
It's actually hard to say, at this point, what my entry price would be for most of those issues. EDC, GMAP, DMC and FPH are still going up. I will not enter until they stop their ascent then form a flag maybe. I will let them go up as high as they want and I will only be on the lookout to enter when they pause.
PIP is the one I like among the five issues because it already paused last Friday, hesitating just below its medium term consolidation. I am bullish on PIP as long as 2.85 holds. I am a looking at a possible flag in PIP. I would actually prefer that it doesn't go back down to as low as 2.85. If a flag does form, then I am willing to buy at current levels because I can see it break above 3.05. :)
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