Simple TA by Wizetradr

[willsimon]

Wize-

Thanks for the thoughts and informing me of that scan. I'll definitely check it out, and didn't even think of checking Stockcharts to see if they had that. Nice call.

Luckily CHL came back up. I'm actually in positive territory on it now. Not much, but I like the direction it's moving now.

Prior to working these gap trades I did spend a lot of time researching them and paper-trading them. I consider them to be the most high percentage trade out there. But I still disagree with the prescriptive "10% rule." While I'm sure that only increases your odds of making a good play, any time I've seen a true gap (open or close higher than previous day's high or low), it always seems to come back to fill the gap. If CHL doesn't, it will be a first for me (again, when a gap happens on no news). So, I'm going to hang with it for now and see what happens. If things deteriorate, then I'll certainly pull out.

Plus, with my money in CHL, I stay away from temptations over in roulette-land, aka GTEM!