Werner writes "

Thx again for your charts and info.


I bought also X and now deep in the red %-(.


I am allowed to ask what kind of stopping rules do you have?"


Yes Werner, the Steel stocks took a hit on Friday. (shaking out the non-believers)  

Following the Rules below:  

Short Term Traders stopped out of X when it Closed below Support of $20.94. Relative Strength is still Very High at 97, so we will probably Buy X again in a few days on the next Money Wave Buy Signal (and probably make up some of the loss). 

Medium Term stopped out when it Closed below the Red Line (50-day avg.) and should get back in when it Closes back above the Red Line.  

Long Term Investors are still in X as it is Above the Green Line, and Above 90 Relative Strength. 

  Above the Green Line Rules-Crop.jpg 



Good trading, and tell your friends!
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Theta is becoming a factor on Sept Calls.  (X) Are you guys still bullish?
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Given the recent trades and markets action it may be prudent to wait for a market pullback before taking longs again. Taking half positions now but a loss is still a loss. Gold and Silver still have not found a bottom yet either.
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The Metals are still under pressure today.

X keeps failing at the Pink Line (10-day avg.) We need it to hold $19.62 Support today.

Top Bollinger Band is at $26.73... and it will normally re-test the recent high after flushing Tammy out.

Good trading, and tell your friends!
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