Wednesday, December 1, 2010

CMCSA - update


This stock decided to get into full on pullback mode after I entered the trade - CONSPIRACY I DECLARE!!

Just kidding. I noticed a couple of days ago that it pulled back in a classic channel, when you get a channel (either on a trade that you are currently in, or looking for a new trade) you always look for a break out of that trade in the original direction of the stock before it started the channel.

In our case, CMCSA pulled back into a channel and today it had a nice substantial break of that channel along with volume that has been increasing over the past few days. I.e. - odds are we go up from here, and possibly quickly.

We're just sitting tight for now - just relaxing and letting this thing either make us profit or give us a loss.

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