I liked the fact that SU held the 5 EMA on a closing basis and hoped it could ultimately take out the early swing high and move up to the $117.00 PP. I took a partial at $115.50 and was hoping for a C&H, but I bailed below the three bar support, fearing it would retrace back down to the rising 20 EMA. 
ESRX was a failed C&H pattern at the $70.00 level.
ANR -I waited for confirmation.All in all, there was a general lack of momentum.
3 comments:
I actually had a good entry in WM but the choppy action really had me on edge and I bailed when all the other banking stocks made a big move up. Turns out WM just continued it's fairly orderly descent.
Yeah Rick,
Hindsight is 20/20. I'm not sure when you bailed but, that was a nice short on WM. Never closed above downsloping 5 period ema until the mid-afternoon consolidation.
Way to handle that ANR. That thing chopped me up left and right. I was hoping it would consolidate a bit once it broke out and never got back in.
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