Hey guys, meant to be low key May/June as for the past 3 years these periods have proved tough for me. Always thought I could outsmart the "sell in May and go away " theory but have been smacked every time so this year I've taken a fair amount off the table and reduced my trading amounts by half. Obviously accepting that bottom line will be effected but for some strange reason it's holding up alright and May has been ok. It's actually quite amazing how aggressively you trade when less dollars are used. And when you have the mindset of "tight difficult market so accept a lessor return" well yes I leave a bit on the table (I have always suffered with this anyway) but the thing is, my cost trades have dropped significantly. So it's quite a positive environment.
My love affair with bollie bands continues and I'm putting together a library of the many quirks associated with trading them. They certainly are the basic of basics when it comes to TA (suits my personality) however tell a great story of the PA.
QPM in at .17 on Friday. Reasons being that it's now trading above bollie median line ( a 20ma approx) and it broke above a bit of resistance at .17 which also happened to be the 200ema. .185 is first target for me as I want to see how it reacts to the upper bollie and will then re-asses. I can really see .20 cents and beyond in this move.
Also enjoying MEK, it's dancing up the bollie line beautifully for a re-rating stock. Gets too far out and it comes back for a session or two. Closed at resistance so Monday could be interesting.
