I do these every once in a while to catch up with past setups. Since the tape is flatlining right now may be a good time:
EJ – our setup is doing just fine – despite the mini-crash last week.
Next we have our favorite coffee roaster – GMCR – yummie setup and it completely ignored the market melt down. If you dared to go long there that is.
We weren’t that lucky with MCO – my stop was touched and it seems want to drop a bit further before it may try again. That one is the odd man out.
Technically the setup on WLP is still active but I’m throwing this one out for free to all non-subs today. Again, this setup survived a mini-meltdown and thus this diagonal should pose some might support.
Finally we have NTES – another setup which bounced up as expected. It did experience a little line breach when things got heated but it did not trigger my stop fortunately. Big reward today.
In summary – not only did the majority of these setups go in the right direction – which is maybe secondary when the NYSE A/D ratio reads a whopping 17 (not a typo) – what’s more important is that all of them survived a massive market melt down which temporarily brought some symbols down to $0.1.
How you like them apples? 😉
UPDATE 2:30pm EDT: One month ago I posted AET and I said this:
Well, let’s see what happened:
And this is where it was the day of the crash – last Thursday! Is it advisable to long here?
And yes – the line held through the melt down which increased the odds strongly towards a long position right here.
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