What do you do now if you are the buyer ?
Time to put on your thinking cap!
We must remember in the market, there are many kinds of players. Retail, institutional, government authorities, etc. Some wants to invest for the long term and would not mind the volatility and probably add more when price drop.
Day or Swing trader would take advantage of this volatility and try to make some profits out of it.
From chart, you can see each buy to the resistance line at 281.40 is met with a sell. So, without holding this stock for so called long term, you can still make money out of shorting it or buying and then selling once it reach the resistance level.
The million dollar question is now it is coming back up again, will you sell or buy ?
If sell, what's your explanation ? If you buy, how do you justify to yourself ?
That's all it matters to all traders and their actions are then pitted against each other in the market.
We must remember in the market, there are many kinds of players. Retail, institutional, government authorities, etc. Some wants to invest for the long term and would not mind the volatility and probably add more when price drop.
Day or Swing trader would take advantage of this volatility and try to make some profits out of it.
From chart, you can see each buy to the resistance line at 281.40 is met with a sell. So, without holding this stock for so called long term, you can still make money out of shorting it or buying and then selling once it reach the resistance level.
The million dollar question is now it is coming back up again, will you sell or buy ?
If sell, what's your explanation ? If you buy, how do you justify to yourself ?
That's all it matters to all traders and their actions are then pitted against each other in the market.
Comment:
OK, maybe like me, you waited for the price to break out which it did beautifully. Are you going to long now ?
Comment:
At 286 level , it presented a great buying opportunity and those who did so were handsomely rewareded
