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News You Can Use
- Thread starter Brandonf
- Start date
I have had a number of questions about UNH, specificlly that it had good news and we bought it, as opposed to most other cases we short good news.
Please refer to the class I gave last weds -log is located at http://www.tradingfrommainstreet.com/etchat.html and note that news is only a CATALYST, its not going to determine direction. In most cases a stock is up sharply before a good news surprise, or down sharply before bad news, its already in the system and this gives us a chance to take advantage of those who come in late. In the case of UNH, you can see on a chart that it had not really moved at before its earnings, this then tells me that the news may not have had a chance to price in. Hope this helps.
Brandon
Please refer to the class I gave last weds -log is located at http://www.tradingfrommainstreet.com/etchat.html and note that news is only a CATALYST, its not going to determine direction. In most cases a stock is up sharply before a good news surprise, or down sharply before bad news, its already in the system and this gives us a chance to take advantage of those who come in late. In the case of UNH, you can see on a chart that it had not really moved at before its earnings, this then tells me that the news may not have had a chance to price in. Hope this helps.
Brandon
reported decent earnings beating many estimates after the bell yesterday, but has already had a nice run.
Brandon:
Do you typically have an exit strategy on trades? In your class last Wednesday, you had some profit targets but I didn't catch how those were calculated.
Also, the charts from you class seem to show that you like to use a 2 min chart for entry and exit positions. Is that correct?
Thanks for taking time to teach the class. Very good info !!
Do you typically have an exit strategy on trades? In your class last Wednesday, you had some profit targets but I didn't catch how those were calculated.
Also, the charts from you class seem to show that you like to use a 2 min chart for entry and exit positions. Is that correct?
Thanks for taking time to teach the class. Very good info !!
Originally posted by Babak
Brandon,
just curious...did you keep watching UNH as it set up a short signal (traded below lod and closed gap)? The reason I ask is that the short was much more $$ than the long (using hindsight ofcourse!).
I had some terrible discipline this week and was missing stuff left and right, the short was one I did miss.
Brandon
Originally posted by Rooster
Brandon:
Do you typically have an exit strategy on trades? In your class last Wednesday, you had some profit targets but I didn't catch how those were calculated.
Also, the charts from you class seem to show that you like to use a 2 min chart for entry and exit positions. Is that correct?
Thanks for taking time to teach the class. Very good info !!
I always have an excit strategy in place, that might be the next class I decide to do here. As a general rule my targets will be prior support resistence, moving averages etc. I always will also be following the tape and if the circus comes to town I will without exception sell peanuts.
Brandon