Contrarian Value Ideas

[gfp927z]

Derf, >> get it and move on <<

With a short term trade as the strategy, the question is how long the current bounce will last. If it closes today near the high of the day, then the current bounce might continue and get to 60-62 before a pullback (a guess). But if it leaves a bearish candlestick today, then a pullback to the 50 MA level occurs first, and then re-evaluate for another bounce. So have to play it by ear. But I'm not an experienced short term trader, so would just be winging it.

That said, if it moves up sharply in the near term, I might be tempted to book the short term profit and then try to reload after a pullback. That's what happened with SMCI -- got lucky and now have the luxury of the 1/2 free shares to hold longer term. The initial strategy wasn't for a short term trade, it only turned out that way for 1/2 of the position. It would sure be great if things always worked out that way. Btw, thanks again for your 1000 call, it was spot on and signaled the near term top and subsequent 30% retracement.




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