Day trading pre-market open January 24, page-25

Morning all. Read my post again from last night's lounge. It's a bit confusing.

Re BAS. What I was trying to say was that TA suggested it was way o'bought from about 15c but obvs it kept going to 22c. I wasn't following the sentiment that closely and shouda realised that it had become a big crowd favourite as oilers and goldies sometimes do. And even 'mattress protector' stocks if anyone remembers AJX. lol. I still wouldn't have hung around to 22c but mighta given it more time after 12.5c. Bad miss there. However, the slow pull of TA seems to be getting it back on track after peeps start to take profits and doubt sets in about blue sky valuations. Nothing to do with FA, just market psychology. imo

MAY also did similar on a smaller scale.

If stocks get into the zone and pick up a mass of followers/believers trapped at various price points or have even made big profits and sold or taken big losses, then the stock will always carry that eccentric behaviour that can make it problematic to chart. ie. LYC, BRN, AJX, BAS, MAY, 88E, BIT, WBT, (WA1 and WR1 getting into the zone atm). Always new ones coming along. There's been some classics. Oxiana anyone? Usually potentially good trading but can do weird stuff that catches you out.

Something to ponder. lol

Happy Trades