Markets have continued to see lots of volatility over the last few weeks and I have mostly been in cash and trading small positions. We still do not see any real trend in the markets and a lot of choppy markets, which makes it hard to hold longer term positions. This is a pretty good market for day and swing trading, but holding long term positions is not recommended. If you cannot handle the volatility in this market, I suggest staying on the sidelines and waiting for a better trend in this market to develop. You do not always have to be in the market
I have a long position in BVF as the high and tight bull flag formed over the last few days. This last week Biovail announced they are merging with another biotech company and the stock popped. If you look at a shorter time frame (10,60 min), you can see the flag form and the breakout. Would like to see higher volume on this breakout and more continuation on Monday.
I bought some CRME today as it broke from a nice pennant pattern with high volume. Closed at the high of the day and I want to see more follow through from this stock next week. I like this for a nice swing trade!!
I have a long position in BVF as the high and tight bull flag formed over the last few days. This last week Biovail announced they are merging with another biotech company and the stock popped. If you look at a shorter time frame (10,60 min), you can see the flag form and the breakout. Would like to see higher volume on this breakout and more continuation on Monday.
I bought some CRME today as it broke from a nice pennant pattern with high volume. Closed at the high of the day and I want to see more follow through from this stock next week. I like this for a nice swing trade!!
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