MON had been consolidating in a tight range for the past three days between 68.70 and 70.30. Today it finally moved. How would you have traded it? Take a look at the two charts below to better understand the context of the move. How will you trade it tomorrow?
I will offer my thoughts in the AM…
34 Comments on “How Would You Trade This Setup?”
Wow an explosive move for sure. I watch mon and the other ags but will be watching my pet POT. An open and held bid above 100 with a lack of NASD tossing 1000 share lots on the offer and POT should be good to go.
not that you asked about POT though.
Wow an explosive move for sure. I watch mon and the other ags but will be watching my pet POT. An open and held bid above 100 with a lack of NASD tossing 1000 share lots on the offer and POT should be good to go.
not that you asked about POT though.
Wow an explosive move for sure. I watch mon and the other ags but will be watching my pet POT. An open and held bid above 100 with a lack of NASD tossing 1000 share lots on the offer and POT should be good to go.
not that you asked about POT though.
Id like to say i would have loaded up at 70 and rode that puppy to the close ….
but probly would have watched it pop a point and agonize as it motored on thinkin im way too late. tommorrow id watch for a fade if it gaps up depeding on the spy.
Id like to say i would have loaded up at 70 and rode that puppy to the close ….
but probly would have watched it pop a point and agonize as it motored on thinkin im way too late. tommorrow id watch for a fade if it gaps up depeding on the spy.
fade for entry for more upside i should say- could have a couple more points in it spy willing.
fade for entry for more upside i should say- could have a couple more points in it spy willing.
Long bias but short at today’s high (tight stop) or break of 73.50 with 72 target (50% retrace). Long with retest of original breakout (70). Probably would be too nervous to go long initially above 75 unless market is strong.
BTW, great blogs!
Long bias but short at today’s high (tight stop) or break of 73.50 with 72 target (50% retrace). Long with retest of original breakout (70). Probably would be too nervous to go long initially above 75 unless market is strong.
BTW, great blogs!
Long bias but short at today’s high (tight stop) or break of 73.50 with 72 target (50% retrace). Long with retest of original breakout (70). Probably would be too nervous to go long initially above 75 unless market is strong.
BTW, great blogs!
wait until it get’s to 74.50 and then short it!
wait until it get’s to 74.50 and then short it!
wait until it get’s to 74.50 and then short it!
Scale into a short at the retracement levels between the top and 73.2, stop a few ticks above the top. Although honestly, this set-up may only work if you enter afterhours, if this thing is going down it’ll probably be a gap down, a pattern we’ve seen quite a lot of recently.
Scale into a short at the retracement levels between the top and 73.2, stop a few ticks above the top. Although honestly, this set-up may only work if you enter afterhours, if this thing is going down it’ll probably be a gap down, a pattern we’ve seen quite a lot of recently.
Scale into a short at the retracement levels between the top and 73.2, stop a few ticks above the top. Although honestly, this set-up may only work if you enter afterhours, if this thing is going down it’ll probably be a gap down, a pattern we’ve seen quite a lot of recently.
long if holds above 73.80. target of 75.70.(resistance on 120 min chart and near 200wma)
short if holds under 73.80 with target of 71.70. (50% fib retracement of yesterday low to hi)
long if holds above 73.80. target of 75.70.(resistance on 120 min chart and near 200wma)
short if holds under 73.80 with target of 71.70. (50% fib retracement of yesterday low to hi)
long if holds above 73.80. target of 75.70.(resistance on 120 min chart and near 200wma)
short if holds under 73.80 with target of 71.70. (50% fib retracement of yesterday low to hi)
by the time i saw this, it was at $72… am i supposed to just chase straight up-movement?!
by the time i saw this, it was at $72… am i supposed to just chase straight up-movement?!
by the time i saw this, it was at $72… am i supposed to just chase straight up-movement?!
I traded MON today and made my daily goal on the momentum craze during its investor event goingson (the ramp you pictured). But now, the blatant transparency is over, and lots of powerful people will be watching. Playing the second day will involve a different type of competition, including the now-becoming-famous “sell the high”-ers that will try to wiggle and shake all the momentum traders. Tape reading will be critical. I will be watching ARCA refreshers like a hawk. “Highs” also need to be taken with a grain of salt, as the HFTers will love to slap you if you become too confident in momentum. Be nimble, use partial lots to dance in and out of your desired full position size depending on the environment/prints/sector/SPY, try to get those ECN rebates, and sprinkle out bids and offers for “gift” fills that can make your day! Trade well all.
I traded MON today and made my daily goal on the momentum craze during its investor event goingson (the ramp you pictured). But now, the blatant transparency is over, and lots of powerful people will be watching. Playing the second day will involve a different type of competition, including the now-becoming-famous “sell the high”-ers that will try to wiggle and shake all the momentum traders. Tape reading will be critical. I will be watching ARCA refreshers like a hawk. “Highs” also need to be taken with a grain of salt, as the HFTers will love to slap you if you become too confident in momentum. Be nimble, use partial lots to dance in and out of your desired full position size depending on the environment/prints/sector/SPY, try to get those ECN rebates, and sprinkle out bids and offers for “gift” fills that can make your day! Trade well all.
I traded MON today and made my daily goal on the momentum craze during its investor event goingson (the ramp you pictured). But now, the blatant transparency is over, and lots of powerful people will be watching. Playing the second day will involve a different type of competition, including the now-becoming-famous “sell the high”-ers that will try to wiggle and shake all the momentum traders. Tape reading will be critical. I will be watching ARCA refreshers like a hawk. “Highs” also need to be taken with a grain of salt, as the HFTers will love to slap you if you become too confident in momentum. Be nimble, use partial lots to dance in and out of your desired full position size depending on the environment/prints/sector/SPY, try to get those ECN rebates, and sprinkle out bids and offers for “gift” fills that can make your day! Trade well all.
if we were i normal trading (and the session would not have ended):
short immediately with a stop around 74.20.
that´s what the underlying volume action tells me.
if we were i normal trading (and the session would not have ended):
short immediately with a stop around 74.20.
that´s what the underlying volume action tells me.
if we were i normal trading (and the session would not have ended):
short immediately with a stop around 74.20.
that´s what the underlying volume action tells me.
I’d wait for it to pullback and consolidate anywhere from roughly 70 to 71 area. Once that happens I’d start looking opportunities to test and get long. I’d get out if bids broke down with significant prints under 70 area or if failure to break higher than 74 area. *I’d adjust this plan though if a pullback/consolidation happened before the 71 level – regardless, I’d wait for a pullback/consolidation to happen first.
I’d wait for it to pullback and consolidate anywhere from roughly 70 to 71 area. Once that happens I’d start looking opportunities to test and get long. I’d get out if bids broke down with significant prints under 70 area or if failure to break higher than 74 area. *I’d adjust this plan though if a pullback/consolidation happened before the 71 level – regardless, I’d wait for a pullback/consolidation to happen first.
I’d wait for it to pullback and consolidate anywhere from roughly 70 to 71 area. Once that happens I’d start looking opportunities to test and get long. I’d get out if bids broke down with significant prints under 70 area or if failure to break higher than 74 area. *I’d adjust this plan though if a pullback/consolidation happened before the 71 level – regardless, I’d wait for a pullback/consolidation to happen first.
play it short on an extended rally today, or wait for a pullback to get long again…these stocks are running with GLD driving other comm prices, no real fundamentals to warrent the move otherwise…
play it short on an extended rally today, or wait for a pullback to get long again…these stocks are running with GLD driving other comm prices, no real fundamentals to warrent the move otherwise…
play it short on an extended rally today, or wait for a pullback to get long again…these stocks are running with GLD driving other comm prices, no real fundamentals to warrent the move otherwise…