Asleep at the Wheel

[rich pearl]

the difficult part of changing the way you play this game is in the breaking of old habits. i'm fairly conservative, and generally disciplined. i don't tend to rush into things, and by the same measure, i tend to dip my feet first before wading in. but...

i'm beginning to work bigger positions, and money management is still an issue. it played a part today in my buying TGRO. i know that hindsight has the benefit of already knowing what happened, but i'm wondering if i wasn't bold enough with my buying. i like the way this traded today and it seems to me in accordance with my newer money values, i should have grabbed 1M shares.

that said, i didn't like seeing the bid boosters with their props. those bids are way out of whack and serve more as fodder for selling, than food for buying. the idea behind a bid of that size is to induce buyers by making it appear that the support is unbreakable. and do i believe that? want to buy a bridge in Hoboken?

matters not. one has to ride the waves were they take you. this traded up almost all day, and closed very strong. it did a lot of volume and watching L2, it looked to me that it established a base of support at .0013. a trade tomorrow of .0016 flips the PSAR, and the bid break over .0017 sets up a test of the 50ma at .0021. break that and it could run towards the 100ma at .0037.

https://www.barchart.com/stocks/quotes/TGRO/technical-chart?plot=CANDLE&volume=total&data=DO&density=ML&pricesOn=1&asPctChange=0&logscale=0&indicators=SMA%285%29;SMA%2810%29;SMA%2820%29;SMA%2850%29;SMA%28100%29;SMA%28200%29;BBANDS%2820,2%29;PTP%2850%29;BOLLW%2820,2%29;RSI%2814,100%29;RSI%286,100%29;SMACD%2812,26,9%29;PPO%2812,26,9%29;ADX%2814%29;WILLR%2814,40%29;STOSL%2814,3%29;STOFA%2814,3%29;SRSI%2814,20%29;CCI%2820,100%29;ACCUM;CHKOSC;OBV;CHKMF%2820%29;MFI%2814,100%29&sym=TGRO&grid=1&height=500&studyheight=100