Wednesday, April 08, 2015 11:03:07 AM
This is the conversation I had to use to convince my friend not to sell.
regardless, i dont thinkt he inventory report matters right now
except to make people panic and sell to the big dogs
if you're selling, that means someone is buying
who's buying those shares??
the people who know that report didnt matter. and they're saying, "thank you!"
Point is, price is factored in. Sell away. I added to my core. Report didn't even give us a lower bottom.
See??
And even if it breaks that current trend of bottoms, there's one last one to break!
Regardless, we're still bullish, and as a long, I'll only sell if we cant get through the 54-55 bs an ahead towards a triple bottom before reversal.
If I were shorting, using CHARTS, I would have set a STOP on the 50 MA personally, so my order didnt get skipped being at an EVEN number on the support.
And then buy back in, when CHARTS show, the new support is held. All today.
NOT using charts, one would see the NEWS, and SELL, and have NO IDEA on a re entry point.
Charts are a TOOL that help, and they WORK when used right. I understand some people, don't know how to use charts, and don't know what to use them for, and they think they're used to see open prices/ close prices/ priced days ahead/weeks ahead, but they do NOT do that. I have explained what they DO do, and if you DON'T want that advantage, DON'T complain about others utilizing them.
regardless, i dont thinkt he inventory report matters right now
except to make people panic and sell to the big dogs
if you're selling, that means someone is buying
who's buying those shares??
the people who know that report didnt matter. and they're saying, "thank you!"
Point is, price is factored in. Sell away. I added to my core. Report didn't even give us a lower bottom.
See??
And even if it breaks that current trend of bottoms, there's one last one to break!
Regardless, we're still bullish, and as a long, I'll only sell if we cant get through the 54-55 bs an ahead towards a triple bottom before reversal.
If I were shorting, using CHARTS, I would have set a STOP on the 50 MA personally, so my order didnt get skipped being at an EVEN number on the support.
And then buy back in, when CHARTS show, the new support is held. All today.
NOT using charts, one would see the NEWS, and SELL, and have NO IDEA on a re entry point.
Charts are a TOOL that help, and they WORK when used right. I understand some people, don't know how to use charts, and don't know what to use them for, and they think they're used to see open prices/ close prices/ priced days ahead/weeks ahead, but they do NOT do that. I have explained what they DO do, and if you DON'T want that advantage, DON'T complain about others utilizing them.
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