To be frank, I have no idea why IPL has been downgraded so much. I only happened to notice it when I was scrolling through my chart scans and thought it might be a potential candidate down the track that I could monitor. Usually I dont pay too much attention to the FA side unless I am looking to take as bigger position as I can in a stock. I do this when I come across a chart and I can see the footprint of the CO. Sometimes that are harder to see, and sometimes they are easier to see. These are the trades that I always am trying to find so I can attempt to get in sync with them. The amount of times I see their footprints long before a re-rate it amazing really. This is one thing that I really try hard to do. I guess I am saying that I stalk the CO.....
However I must add that sometimes I will also stick my toe in the water with my buys and add once I get a feel as to what is really happening. Agree re the markets, and see this week as yet another one that may give us a hint if it wants to breakupside. Still as I always maintain, there are always stocks going up in any market otherwise the various indices would be zero. I try very hard to not read much about what is "happening to the markets overseas and at home" as it has an effect on my trading mood so to speak. I believe that when the crapper hits, the easy money dissapears and it is time to really knuckle down so positions entered are made where there is a higher chance of reward. When markets move into Bearish mode, I know that I have to work even harder to find stocks worthy of entry. They are always around, just have to sometimes look harder for them. This is not a bad thing imo as it somewhat centres me, in other words it gives me a jolt so to speak, of the importance of getting into high proability trades.
Cheers
GF
PS Will report back with some setups developing during the week. I actually jumped the fence into @pilsner place and copied his blueprint for his voodoo machine. Have finished building it and am looking forward to giving it a wirl
