Just an idea for a possible near term price target.
I was bearish until we had a clear break of the channel it was trading in. (See my last post).
Once we gapped up on Friday out of the channel, my bear case was invalid and I purchased calls for a nice little gain.
The trick to trading is to not be stubborn and stick to your plan. Whether the stock is hitting your price target or hitting your stop loss. Acknowledge when you're wrong and when you should exit a trade, as well as when you should open a new one. If you don't have a current plan or see any real opportunities to trade, then simply stay out! Nothing wrong with sitting on the sidelines waiting for a better opportunity to come along.
Currently sitting on the sidelines waiting to see what Monday brings :)
I was bearish until we had a clear break of the channel it was trading in. (See my last post).
Once we gapped up on Friday out of the channel, my bear case was invalid and I purchased calls for a nice little gain.
The trick to trading is to not be stubborn and stick to your plan. Whether the stock is hitting your price target or hitting your stop loss. Acknowledge when you're wrong and when you should exit a trade, as well as when you should open a new one. If you don't have a current plan or see any real opportunities to trade, then simply stay out! Nothing wrong with sitting on the sidelines waiting for a better opportunity to come along.
Currently sitting on the sidelines waiting to see what Monday brings :)