Falcon Energy - Trade 2430 Lots

Went to chase Falcon Energy which I seldom do. Because it was a penny season for the oil related counters and since Falcon did not move yesterday, it was a signal to start watching today. Falcon is a very slow stock and most of the time it's pretty stagnant without much movements and hence when it gap up today at 0.041/0.042, I was pretty hesitant to click the buy button. It was until the momentum starts kicking in where the buy up was so fast that I had no choice but to follow.

The stock rampant up fast and the buyers just whacked up the shares in a quick fashion. Unfortunately, I chased and ended up a bulk at 0.045 where I am currently in a 1 pip profit. I am not sure how fat it can move but I know it has reached a supply zone where I would either look to cut loss or take a quick one and go. See what happens after lunch.

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Ronald K - Market Psychologist - A Stock Market Opportunist