Let’s look at something other than BA, which although it had another massive move, was less interesting than it has been for the last couple of days. Here’s what happenend on ROKU:
This was a three-biter, and two of those bites were pretty chunky. The first was a classic entry, but the momentum wasn’t really there and the price didn’t follow through. As one of my golden rules is to never let a winning trade turn into a losing one, I got out with a modest 10 cent/share gain, taking just $100. Not a good win then, but crucially not a big loss, meaning we live to fight on.
There was another possible entry about twenty minutes later, but again the momentum was lacklustre and having seen one trade not work out, I was waiting it out to see if something better would come along.
Something better did come along about ten minutes later. Volume ramped up, momentum took hold, and down we went, taking more than two thousand dollars on a trade that lasted about ten minutes.
The third and final bite at the ROKU cherry came about fifteen minutes later and the drop was even more precipitous, giving us another couple of thousand dollars and change in another ten minutes The exit was when momentum dropped away to nothing. A retracment was highly likely, and having made more than four and a half thousand dollars already, I was quite happy to get out and call it a day. Besides, it was getting on for lunchtime!
Here’s one more:
Not so exciting, but a simple, standard setup with a good regular target (easily hit), which made for almost five hundred dollars profit. Like ROKU, the trade only lasted about ten minutes. Yes, there was more to be had earlier, but as we all know by now, it’s about taking the easy middle.