AMGN....and out of here!!!!!

I use symmetry to measure pullbacks in trades.....daytrades, swing and even long term pullbacks on a weekly. Today, the news drove crude to new record highs and the stock market went the other way in an ugly fashion. The cyan lines show the measured pullback and on the open this morning it just took it out, plain and simple.

So now we wait for the next setup......if you have time go check out PENN and you will find that every year for the past 11 years if you would buy it around the 16th of April and hold to the 24th of May you would have made a profit 11 out of the last 11 years.......go check it out.....some years it was a nice profit and some just lunch money.

Of course, you would also use a method to trigger you into the trade, a style to manage the trade and of course, the cover. Now that also requires using price, but what the heck.