In at $30.75 even though it is 13 cents higher than I would have like. Too much upside potential to be sitting on the sidelines.
The channel demonstrates more of what should happen if trends behaves in a predicted manner. I am looking for a min $31.52 and a max of $32.29 before the end of the week if all goes well. After that, it doesn't matter. I would rather make 2.5% to 5% in a week than 20% over 3 to 6 months. There have been some big purchases today indicating some big investors are taking notice of this one. My philosophy is the longer I am invested in something the more risk I take of something going wrong.
Let me say Firstenergy Corp has yet make any significant upward movement. There is however an interesting trend that makes this stock a choice of interest for me. There has been a re-occurring pattern of early morning increases followed by decline throughout the day. This has presented an opportunity to purchase at the end of the trading day and sell the following day on the upward movement. At the end of the day if the pattern continues you have the option of re-buying your position at a lower price than you sold for earlier in the day. From the look of the high volume of trades at the end of the day it appears that the day-traders are controlling the price movement on this one. When you do the math and calculate the size of purchases it takes to create the large spikes it is obvious that there are some big players playing this one. This is a one minute chart. I am interested in your opinion on this one.
Agreed, I expect that to change soon. (I have been wrong before) I don't plan on following it all the way down if it continues dropping but as long as the trend continue I plan to continue to buy just before close and sell the next day. I collect about 1% a day on average. Works for me.
you should just open an iron condor and collect the income from it rather than having to pay brokerage fee twice daily just a suggestion.
Looks like this one just bounced off support/previous resistance. Oversold as well. Might be a decent spot to try to play the support bounce for ~15% gain potential up to $35. Fairly low risk if you want to set a stop at like $29.50ish.
Thanks for the advise, the total cost to buy and sell is less than $20 but it is something I will look into, thanks.
I am convinced this one is about to turn around. I will be looking for a good entry point for today. It didn't drop off as far as wanted yesterday so I missed my chance to rebuy.
I have been in and out for a few days now collecting the crumbs. Started at $30.75 and now have my costs down to $30.06 without taking a lose, I am still waiting for the pay-off.