Post by Admin on Apr 19, 2015 11:45:00 GMT -5
A: CMCSA showed signs of price exhaustion near a previous high as it advanced on weak volume. It subsequently sold off the next day.
B: I noticed that the attempt to rebound after the drop was muted and the sellers remained in control as they accounted for the lions share of the volume on the 14th. So I took the signal and went short.
C: The very next day ( at the curious and unusual time of 10:09 AM EST) BOFAML issued an upgrade for CMCSA. I had no choice but to get out of the way. So I closed the trade before it hit my stop.
You can see the BOFAML release here: CMCSA Upgrade
Needless to say, the sell of on Friday knocked CMCSA back down and it went on to hit my original target. I was "faked" out of this trade but that happens from time to time
.