Let me add this...I am not telling you not to make the trade. I, personally, wouldnt trade it.
the reason I say this is b/c a couple of weeks ago someone posted sort of the same thing on ET.
I told him I wouldnt trade it. I added that if forced to trade I would only trade it untill it...
I LOVE FALLING KNIVES!!!! but not this one. markets tend to overshoot and overreact. but this is something real. personally, I had looked at it earlier and passed on it as a trade.
Currently it is at 87.82 +0.02 (intraday price). As far as trading it...looks like a buy for a one point or more pop.
As far as an investment...I am really unsure?
I have found p/c ratios most useful at extremes relative to the instrument or underlying you are trading.
For example, one issue may show a consistent history of nicely moving for one day when it has an extreme 4/1 p/c ratio, another issue may show a nice weekly move at an extreme 3/1 p/c...
Hope I didnt scare you out of this trade. It has traded up to 69 and looks like it may want 71. Again, I personally wont trade this one, but I will continue watching it. maybe I'll learn something new.
thanks for bringing it to my attention.
I love falling knives. Unfortunately, I would not trade this one ( I would prefer a gap down and several other criteria then trade it up to 69). That's not to say it isn't going to 72. Good luck on the trade.:cool:
uhhh, I havent followed the 124 pages in this journal... the title says, "Stock Swing Trades." What happened to the stock trades?
Continued success looks like youre having fun (as a swinging dick,lol).