PPR - JJS update
JJS issued another pocket pivot today. Note, the down day on 3/21 is actually not a distribution day because the stock closed near the top end of its range, and thus was only down a hair. Thus its biggest down volume day was on 3/23.
Commodities and commodity related ETFs as well as ETNs (exchange traded notes) often trade in wide, sloppier bands. Thus using a violation of the 50dma can be premature. The 65dma can be a better choice provided it has not exceeded your stop loss limits.
For those of you who did not buy JJS on the reports we sent out on 3/17 or 3/24, you could instead initiate a position here using a violation of the 65-day moving average as your stop. Since it is very close to the 65dma, the risk in initiating a position here is low. If you own a position, and your cost level is above where the stock closed, it is best not to add to your position since you dont want to average down.
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