tradersams blog

mol close

MOL:  Closed my position in Moly Mines at 1.17 for a 10% loss.

Maybe this time I’m being overly strict in cutting my losses – I have taken a dip below my support line stop to exit intraday, rather then wait for the end of day close.   Normally I would hold this position for an end of day close below the support, or a fall below the trailing stop loss line (the lower brown line).

I note the drying up volume as we get to the tip of this pennant, normally a good build up for a breakout of some find.  Will continue to watch.