I bought some TSO this morning @ $21.62. This is not my typical breakout-buy, or even a bounce-off-double-bottom-buy. But the stock is down from over $65 and trades at single digit PE's. It is just now generating some white candles, breaking only the shortest term down trend lines on the daily charts.
In about an hour, I am up 50 cents, about 2.5% and have a mental stop at break-even. With resistance at 24 and again at 28, the risk:reward is decent and in a perfect world, we have a major bottom in the making.
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2 comments:
So, did u exercise your mental stop?
Thx, Wayne (new to the blog)
Yep---was lucky enough to get out at break even. Tomorrow is another day.
(Or is it?)
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