05Dec11:06 amEST

Update on Two Market Chess-Style Ideas

Bk1fvL0IIAAKe6T.jpg-large YELP has been a consistent short setup I have charted in recent weeks. This is a textbook broken chart which needs technical and psychological help before having a chance to heal itself. Note how price is operating below major, declining moving averages. This morning, YELP appears to be breaking down from the highlighted descending triangle pattern, in light blue. Risk remains lower. And MRGE was a long idea of mine, in the secular shift away from written to electronic medical records, which I noted in this post several weeks ago. MRGE, along with CERN and perhaps even QSII, remain long setups to watch on further strength. Of course, all of the ideas I put out do not work this well. But I am quick to admit I am wrong and cut losses to keep them small, rather than eschewing stop-losses and wallowing in self-pity with massive, buried positions. That's the Market Chess way. YELPMRGE

Late Night Strategy for Frid... Looking for the Old School S...

 
BackToTop
 

This website is intended for educational purposes only. | © 2021 MarketChess.com | All Rights Reserved | Website design by Saco Design | Superpowered by Site Avenger

mobile site | full site