As you can see from the candle chart, above, we closed with a bullish engulfing pattern while closing slightly above the triangle pattern. The increase in volume tells us the buyers are moving in. Selling a credit put spread is a bullish position, which means we will still have to manage risk to the downside.
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Equity Oracle: 09/18/15
I’ve said it before and I’ll say it again…gap trading is one of the most reliable strategies you can follow when trading the stock market. Another thing that you can count on is the fact that gaps fill 80% of the time and after they fill there is an 80% chance that the price will […]
Equity Oracle: 09/09/15
On August 21st we closed our position in DOG for a profit as the stock hit a resistance point. Now that the stock has pulled back we can see that a clear bullish engulfing pattern has surfaced.
Equity Oracle: 09/03/15
On August 21st I put out an alert to buy Geron Corp. (GERN) at the market after the stock closed with a bullish engulfing pattern. In the video I explain why you should be taking profits in that position today.
Equity Oracle: 08/27/15
In June we tried to get into ABX with a contingent buy alert but we never got the bullish candle we were looking for. At this point, things are looking much more bullish for Barrick Gold and it seems as though a new trading channel is forming.
Equity Oracle: 08/21/15
On August 7th a contingent buy alert went out on DOG to buy only on a green candle over resistance. Now that the stock has broken out we can see that the price is now hitting resistance on lower volume. This is a contrarian instrument that goes up with the market drops.