AKRX trade for 1/12/2016

Posted By JM on Jan 12, 2016 | 0 comments

A small part of Contrarian Trading involves trying to pick bottoms on falling parabolic charts. Most daytraders do not have the guts and skill to step in front of the train but we do when we the tape tells us that the bottom is near.
Today $AKRX (Akorn stock), a generic drug maker, tanked hard on no news though it broke down technically on the short term daily charts. We got in almost near the dead bottom and sold immediately on the way up for some quick profits. We didn't make too much ($1245) as we sold out too fast but we wanted to show you more examples of easy trades that we can teach you how to execute.
The key is trading falling parabolics is buying stock near the dead bottom and our tape reading skills enable us to do just that. MookTrader is the best at trading parabolic moves.


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