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brlc ????

 
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russjackel



Joined: 16 Sep 2005
Posts: 59
Location: niantic ct

PostPosted: Mon Jan 08, 2007 11:46 pm    Post subject: brlc ???? Reply with quote

bought brlc at 9.62 friday on kicker symbol was pleased with move friday and this am. I set a stop at 10.85 this morning with it over 11.25 did not think it would fill but did Cool My question is should I get back in if it is positive tommorrow as I see no reason for the drop today as it was good news. Or should I just move to a trade with better potential at this time. Thanks for any comments.
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Harry



Joined: 11 Jun 2005
Posts: 128
Location: midwest

PostPosted: Tue Jan 09, 2007 9:38 am    Post subject: Reply with quote

I have been in this same situation a number of times. What I do now is wait and see. The formation of the candles and the volume will tell you when to buy back. Sometimes its takes several days to get rid of the bears.
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ChickenHawk



Joined: 24 Apr 2005
Posts: 247
Location: Houston, Texas

PostPosted: Tue Jan 09, 2007 9:45 am    Post subject: Reply with quote

The Bearish candle is too large to ignore. I think it will head down, and may be a good short. Usually when a candle is that bearish, it is followed by 2-4 bearish (but smaller) candles. Notice that the stochastics are overbought and appear to be heading for a fall.
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Harry



Joined: 11 Jun 2005
Posts: 128
Location: midwest

PostPosted: Tue Jan 09, 2007 10:44 am    Post subject: Reply with quote

We see this one different. There is no way I would be thinking about a short at this time. There is six days of increased volume before the one down day. Who was buying? Are they going to just go away? I think not. I don't know the short ratio or what happen that one day. It could have been pofit taking that ran it over the stops. It will be interesting to watch and see as the week goes on. I would start watching for a short if and when it gets to the 8 dollar range. I still say this is one to be out of and let the candles and volume tell what is going on. Very Happy
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russjackel



Joined: 16 Sep 2005
Posts: 59
Location: niantic ct

PostPosted: Tue Jan 09, 2007 9:16 pm    Post subject: Thanks Reply with quote

thank you both for the reply. I am going to look elsewhere for a better set up but will watch this one. I can not short as I trade in an sep account so only make long trades with no margin.
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