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correcting slightly ...

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JLS   Friday, 11/10/17 02:02:30 PM
Re: ChrisJP post# 3893
Post # of 4538 
correcting slightly ...

Isn't helping?

I have the opposite view. Nervous Nellies get out early today. VRX continues higher on a red day.

That's a lot of help! It shows strength and commitment in the market wanting to own VRX.

Frankly, I would not care one bit if VRX continues going lower during the day and closes a little lower than yesterday. Compared to yesterday, today's candle still has a higher high and higher low. That means the trend is still UP, even if it forms a red body by the end of the day.

There is a tiny amount of resistance at the current level that formed last December and January. That's easy to overcome and I was aware of that when I drew the green channel.

VRX has weekly options. That's a very good thing. That makes it very easy to make money by selling CCs. And it makes it easy to wash, rinse, repeat if assigned.


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