I have been asked a couple of questions about OMI, so here are a few
Whether you managed to get in or not at such a good break, you should
follow the stock now for a while, such a large range gives you the
chance to see the maths working more clearly. Comments on the chart.
This sort of move is what you do your study for. There is always one
around the corner to stay alert for that too. This is yet another reason
why one needs to stay emotionally balanced in the market. I can tell you
with some experience it did take me a while to stop worrying about the
previous loss in order to not miss the next winning trade.
It is also an illustration of why stops must always be exercised;
preserve capital for the next mover, because more often than not the one
your hanging onto is not that next big mover. So always review the AFR
new highs / new lows column, every day.
Omi - PDF
Omi 2 - PDF
CEY - PDF