A few weeks back, I was stopped out of my position in OMI for a nice profit. The setup looks good again so I have some buy-stop orders on it today.
OMI is setting up nicely for another move up. Although earnings is just a week away so I'm probably going to sell by early next week regardless if it moves or not.
A lot of market strength has benefited my recent trades. In particular half of TILE and GOGO positions were exited at 1x risk. ACAD displayed +8% strength last friday. Even if it is at 99% of my first target I am inclined to take half off already today.
My feeling in OMI is that my buy-stop order will get hit and then it will get stopped out. I feel that the market is overreaching again and poised to take out new highs but without enough good news, I feel like the likelihood of it pulling back and being "noisy" is just much higher.
Nevertheless, I have decided to take the setup just because I like it and I have to be consistent in taking these setups. I have to be consistent even if it doesn't feel comfortable.
I begged off blogging for a while and taking on new positions, so just managing those three in the meantime. I'm incredibly stressed at work so my decision making skills are not up to par. Now my best idea is OMI so it better work. LOL
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