PCYC

[Pascal]

I had a buy order just above the 50MA, but it was never executed today.
Then, I just noticed that large players are not buying the afternoon bounce.
Maybe because it is Friday.

I will refrain from buying a position in these conditions.


Pascal

[Pascal]

Selling continues and hence, this stock must be avoided for now.
It might bounce, but I'd buy only if it regains the 50MA on a positive EV divergence.


Pascal

[Pascal]

I finally bought a long position in PCYC at 118.11.
As a matter of fact, I left a buy order at the bottom of today's range as the LEV pattern looked slightly positive and then left for dinner.

The buy price is somewhat outside of the normal range though. The stop is at 115.95.
I also copy the statement from my Interactive Broker so that you see that I do not fake this buy (The time is our local time.)

I also opened a long position in AA. AA is a former leading stock that is now under accumulation again.
I suspect that AA, SCCO and some other materials stocks' accumulation pattern could be a sign of what I wrote in today's comment: we are going to see a rotation to the sectors that have been under heavy shorting pressure.

Once again, trading is risk management. Hence, I have stops, even if the theory looks nice and the data points to that direction.


Pascal

[Pascal]

We should have bounced higher today and on the otehr hand, we can to test support on negative EV.
I sold for a tiny profit for 118.47 so that I not do have to sell at a loss.

If EV had been positive on the way down, then I would not have sold.



Pascal