POT has been a pretty good trading stock recently. After putting a double bottom in place on June 8 it traded up about 10% before establishing a fairly wide trading range between 98 and 101.60. Today it close below 98.
I will look for more downside tomorrow using 98 as my initial short price in the morning. I’m looking for downside to 95.50.
One Comment on “A Trade Idea For Tomorrow”
Hey Steve:
Just wondering how the trade went. I only made a quick 50c scalp off of 98.0 after the rate decision.
It opened near 97.5, is that too bad of a price given how unclean POT can trade. If you had the position, would you take it all off when it failed to go below 96.0, or would you hold some to see if it can break below 95.5, and turn it into a swing trade based on the multiday technicals. Would you hold that position all the way back to 98.0?
Regards,
Tapetrader