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Posted on November 7, 2012, by bsifling, in Blog, Video Lessons, tagged
Nice work Brett! I did not follow yuor trade of GALE but did buy into ALXA and ATHX Hopefully one will hit! what are your exits for those? Also How do you calculate where to start measuring for your resistance lines? Why not from the top of the run up? why start at the second peak?
ALXA I will probably sell more 4.50ish now, or 5.00 depending on strength. ATHX looking for any pop 1.06+ as of right now, but if SPY continues to get killed, I will sell that too.
Resistance lines are calculated by former highs and lows, and former bases. Buying when it breaks the second peak is because the stock showed strength to come back to the highs, which usually sends it even higher. This is a ‘buy high, sell higher’ strategy.
Hope that cleared it up.
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