"The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge." - Stephen Hawking
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Got to the markets very late today... caught only the last 15 minutes. So, I took a paper-trade on SKF just for fun. Picked up some (fake)gas money.
I included the ARO chart as a continuation of yeterday's "What's Familiar" theme. At 12:45-12:50pm, two dojis in a row on low volume coupled with a cross of the 17 EMA by the 7 EMA. A short trade at this point would never have reached above the entry price of $41.02. Trend continued into EOD and would have yielded up to 84 cents of gain. Price never closed above the 17 EMA throughout the downtrend. And the low point of the trend? A doji at 3:45pm. After the doji... reversal of the trend.
