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CaptainGrumpy

4,594 Posts.

177

28/05/17

09:26

Post #: 24951756
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Originally posted by Orwell ↑

I don't like the way HSO finished the week Captain. I expected the inside bar but I wanted it to close at or above last weeks close of $2.11. The way it faded and closed low at $2.07 makes me nervous.

I find when I'm shorting stocks that I like this sort of set up. A noticeable feature of stocks in the process of breaking down is that they don't break on a Friday. Maybe because of shorts closing out for the weekend or whatever, it's almost as if they move to the edge of the precipice and pause for a consensus to form and then break the next week. I reckon with this one someone could kick it down just one or two cents on Monday morning and stops would start triggering and away it slides.

I'm not saying that will happen, I probably don't know enough about this stock, just saying that it's in too vulnerable a position for me to be still holding if I had owned it.

Good luck with it.

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Thanks Orwell, I forgot to post but I closed out on Friday. Decided to give it a couple of days to see if it could rebound into the trading range, but feeling more sinister than a shakeout. Took my medicine and she goes back onto the watchlist. Thanks for sharing thoughts all.

XMD Value at posting: 6,213.5
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