MOMO Swing

 



China name just getting killed for months, Back to big IPO area and starting to tighten up, TLs catching up, kweb/eem helping out. Figured its due for a real solid pop as industry finds strength. 

Got that at the open, name blew up to bo level, broke it by a  few pennys, then sold off all day back under prev hi. I stayed in whole time, not seeing reasons to give up on it yet, but if things dont improve well before the close, I may at least trim. Reduce risk, leave it on for the better winners. 

Drifted lower into the close. Did have some big TL retest and hold, not super clean though. Bothers me that we ticked out that breakout, and didnt hold anything afterwards. Seems like failure, but juuuuuust not enough yet to shake me out. Close though.

Out if we cant stay above 13.60 later in day, or if Lo is lost. Add if industry strong and were holding 13.60

2nd 

Recovered well after selling it all off again. Held better than most china names so I will stay in.

Market continued collapsing next hour, we held on amazingly for so long defending close and bo level. 

China names held on overall ok. We found our bottom and started turning up, MOMO still positive for me making failed breakdowns everywhere just under 14. I added some more. Overall this trade is not dead yet. 

Couldnt hold though, all out on new low.

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