Here's a good chart to remind us all to always follow stops, never average down and never go against the trend.
"But if after a long steady rise a stock turns and gradually begins to go down, with only occasionally small rallies, it is obvious that the line of least resistance has changed from upward to downward. Such being the case why should anyone ask for explanations? There are probably very good reasons why it should go down." -Jesse Livermore
7 comments:
Yes, agreed. Follow stops without exceptions. But more importantly, I think we should only trade what we see, not what we feel.
This is even more rudimentary than stop setting since it helps one avoid bad trades... but somehow it's harder to remember. Haha.
the market has trended up and everyone sees that, what we should be looking out for are topping chart patterns like this one, it takes us out of the trade early, safe and sound.
I refuse to be a prey by this stock. Im tracking this stock.
All stock markets are under pressure at present-macro level from political/military tensions,euro contagion,QE2,FX standoffs,etc.On micro level LPZ has pipeline imbraglio, reorganising. BY february it should have good news/results.In meantime looking for other opportunities ,risks
what maybe the strong support for this?
jc, support is actually the long term uptrend line in the weekly chart(connect april 2009 lows and feb 2010 lows). Probably around 4.2-4.3. It may change as the price moves.
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