We had a great day today in the Bulls chat room shorting recent momentum parabolic movers SBGI,NXST,GST,TVL,MEG.
Let’s study SBGI and NXST chart to see how we traded them. Both had huge runs last few days with SBGI going from 20.50 to 27.60 in 3 days! NXST from 16.50 to 22.40. This falls into parabolic run category. So we wanted another gap up this morning on both as the stock exhaust itself in terms of price and profit taking finally kicks in.
NXST did gap up this morning and sellers were piled on this last thrust as it quickly was sold off as expected. See the notes on the chart how it provided some short entries.
No gap up on SBGI and they both are from same sectors . Ideal entry was in 5 minute open range break. Both made a intraday bear flag after initial fall , giving second entries for short trades as they both were taken into the woodshed.
If you are interested in trading low risk/ big gains setups with us and learn trading, live in a chat room with a super team of traders, please email for info. thenyctrader@gmail.com . Bulls trading boot camp starting again in May where we cover more on this type of strategy in details. let me know if you need any info.
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