Last week I made a trade on $OREX and although I had a small position size of 250 shares, I still came out making $25 from my trade. It wasn't until this week while at work when I realized that the setup I traded for $OREX was one of the setups I was most comfortable with. Buying earnings winners on dips do not scare me nearly as much as buying a stock that is simply uptrending. I know this one of many trading setups that I will continue to be comfortable with. Cant wait to start trading more of these!
Posted Sep 16, 15 12:06 PMbybraxtonnunnally
Tickers
OREX
Received 3 Karmas
GJ. Great that you found one of your niches.
Brax: Dip buying earnings winners is a good strategy. Just make sure the volume is there to firm up your entry. Penny stocks are volatile and even earnings winners can move against you.
@Palmer Yes, its funny, I actually tried to dip buy this earnings winner EVOK this week, I had no idea that it would crash as bad as it did, but once I saw the stock going nowhere I got out before the crash and took for a small loss. Unfortunatley I looked at the volumer AFTER I bough the stock, bad move.
Yeah, that'll happen. Tim has a knack for dip buying. Watch where he buys on the dips and you will see there is usually a few bars of volume in the area where he gets in. If you can monitor Level 2 with volume surge, even better. I posted this yesterday about his $BEAT dip buy... http://profit.ly/user/Palmer/blog/8-minute-momentum
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