evening folks. here is the trade review for $MY. This is bascially 2 diff setups combined into one. On the technical side we have a rubberband setup which for you members of our site. I have over 100 videos on my setups. You can find details on more rubberband plays like Lnkd, mgm, etc. On the otherside of the trade we have tax loss selling which really intensifies this time of year. For those that have traded with me for the last few years you guys know this time of year is the best time to trade for daytraders as the stocks that have been beaten down tend to get flushed 1 last time for tax loss selling purposes. Essentially after that last flush the selling subsides and even a small hint of buying pressure can launch a stock as there are no more bagholders left. Everyone has sold.
MY is an interesting stock as its a recent IPO and has gone down pretty much everyday since that ipo. This is the type of stock where essentially everyone is a loser in it. Thats what im looking for!
We bought this stock at 1.28 and sold our last 1/2 at 1.61 for 25% gain!
[screencast url=”http://screencast.com/t/uoI9ewEyP” width=”” height=””]