tradersams blog

aoe open

AOE:  Opened a long position in AOE today at $4.45.

I have to be reasonably comfortable with this entry – the share has broken through earlier resistance to make all time highs in the last couple of weeks.  The share generally trends well which should make it easy to track.

As for general observations today, the market was going strong in Australia early in the day, however got that bearish sign – a general collapse later in the session.  As I look across at the opening of the US markets I can see the market opening down 1% but recovering quickly and seemingly to -0.1% then down again within the first half hour of trade.  Volatility is around, and predictability seems to be dropping – for me anyway.

So what to do?  Ignore the noise, focus on the charts!