This was a tricky morning with these tickers running pre-market and then stalling right at the open. It is very tempting to buy at the open when you see this kind of action but over time you learn to wait and see what the real story is. It is all a learning experience and can cost a few $$$ to learn but that is all part of it.
Palmer
Posted Aug 03, 16 6:00 PMbyPalmer
Categories
Price Action: Morning Spikes
Received 7 Karmas
Was a very tricky morning indeed. I jumped the gun on $ADXS as well but it played out the right way. Great video lesson.
Thanks Palmer...nice recap...strange open everything tanked
Yesh, I am getting 'better' at sitting back and letting the price action clean up. On the verge of not trading ANY morning spike price action unless it is an earnings winner, contract winner, or previous price action but all of these must be breaking through daily resistance to get me to that point. I make mental or written notes per the pre-market news and where the price is at the open and what they end up doing too.
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