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The other day I wrote a quick piece on How BP would be a buy at some stage, many
know that I pick things up from the lows after working with a guy in the city
whom I considered to be one of the best traders in the world at doing this.
I mentioned a bounce trade on Barclay's after the piece on BP which showed a
move I actually traded and gave the approx entry and exit points.
Imagine my surprise today when I read a newspaper article about BP being a buy
at the lows followed by a mention on how Barclay's was a buy in the past and
giving the same entry and exit points I mentioned . Now the BP piece could have
been written by anyone today but by then following up by mentioning Barclay's
and the exact move I mentioned is a very big coincidence.
I know many in the industry read this blog I hope it inspired them.
However it takes skill to trade these moves and an understanding of what to look
for. Get it wrong and its on the next leg down.
The article mentioned some other stocks that were considered buys, two are on
my short list as they are not buys. Unfortunately its all very well writing about
moves but you need the skill to determine when they are actually buys.
If anyone wants to learn what to look for in trading these type of moves then
come on my swing trading course and tell me your interested in that style of trading
and I will give you all the signals to look for. My e mail is alanrichtrading@aol.com
The best one I had recently was Rock hopper at 34p. The chart with my account
entry is shown below.
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