Monday, December 10, 2007

PSS- Failed Pattern

Saw a pattern on PSS that I've made some decent cash on so I took the opportunity and bought in at 18.79 It was making higher lows and then blew through resistance and shot up which I've seen before waited for it to dip and then got in. It struggled to keep the momentum and died just before it fell hard. My stop was at 18.69 but didn't get filled until 18.66 which caused a 1.3R loss. Which isn't too bad but not ideal. Worst case scenario I can handle about 5 2R losses in a row but ideally I want to see them under 1R.


Looks to be rallying now that the Q's are starting to take off as well. There's always tomorrow.


pss trade chart

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