/biz/ - Business & Finance

>>24289215
Pretty soon. Depending on how hard the meme juice is flowing on that one it might only be a day or two of pullback. From swing trade perspective I can't touch it at these levels without seeing a consolidation happen first. Couple day violent dip isn't enough. I need to see exactly where support is forming and make a decision from there. You can of course jump in on the first big red candle, say like the -16% Corsair had today, and cross your fingers. That's a coin flip entry. Could be worth it if your risk tolerance is that high but it's not a sound strategic entry.

My favorite entry pattern for stocks that shoot up like crazy (and I wasn't in for that first jolt up) is to see a high, a sharp drop, bounce a bit from the low on the drop, and trade a sideways range for a few days. That range gives me a good idea where to put a stop loss on entry and some things to look for relative to the volume, look for signs a breakout is forming, enter in the range somewhere or be conservative and wait to see the breakout occur with above average volume on the move. Main thing on this style of entry is to eat your loss early if it breaks down as the downward break can get out of control real fast and turn ordinary losing trade in a catastrophe. There is no "well this is a long hodl now and I'll just wait it out". Decide what kind of trade it is before you enter and do not waffle.