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Making money on the price downside is difficult because most buy and sell combinations are unprofitable. But as prices decline, savvy traders can spot buying opportunities. For instance, the price downside of Hovnanian (HOV), one of many struggling homebuilders, has presented traders with four entry points that yielded significant gains. The chart of daily closes from August 1, 2007 to January 23, 2008 shows the four brief, but profitable upsides. The percent gains are noted on the chart. The fourth upside yielded a 68 percent gain in just nine trading days.
Buy and Sell Combinations
- An Explanation |
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Copyright ©Richard A. Howard 2003-2008 |
