WC:I trade what I see...buying in on Thursday morning was very risky, as some people found out....
Those moves usually come to a screaming halt because they have gone too far and you have to be quick to jump off. They usually take the same form..the first day is a big green bar.where the real money is made and the second is a big red one .Congrats for getting in on the initial move...those moves are rare!
I have been caught a few times chasing prices and even now it's hard to resist the urge to join in but there's always a better opportunity to take a position after the big move and that presented itelf to me on Thursday afternoon after I had a good look at the chart....so I took a small position at 28.5 ...based on my analysis and not public hysteria...I also watch the trades go through...You get a real feel for the underlying sentiment that way IMO
Yesterday's session was very positive in an extremely jittery market and I thought MEO held up well too
froma chartists point of view I am finding the trading on MOG very interesting and if anyones is interested in Elliot wave or fibonacci this is a good one to watch
cheers
MOG Price at posting:
26.2¢ Sentiment: Hold Disclosure: Held
