PBF: In an uptrend, buy dips
Updated
I'm looking to reenter PBF at support near the 27.55 mark. I've highlighted my recent trades in the chart, showing my exits and reentries. I'm adept at working like this instead of holding during corrections. I anticipate the turns based on price action around key levels, and the application of Tim West's 'self contrarian' signals that we use to time exits in good profits, or trail stops and add to positions.
What we do is constantly asessing our own emotions regarding our positions, specially the winning ones, since this gives us a great edge in finding good profit taking zones, and determining when to reenter positions.
I'd reccomend buying a position gradually near the 27.55 mark, starting as soon as Monday would be ok, but ideally the correction will last until December 14th which is what I estimate.
I'd reccomend opening a 7% size position if we hit 27.55, and you can look to add once in profit confirming the rally. Entering over a week would be better.
Good luck,
Ivan Labrie.
What we do is constantly asessing our own emotions regarding our positions, specially the winning ones, since this gives us a great edge in finding good profit taking zones, and determining when to reenter positions.
I'd reccomend buying a position gradually near the 27.55 mark, starting as soon as Monday would be ok, but ideally the correction will last until December 14th which is what I estimate.
I'd reccomend opening a 7% size position if we hit 27.55, and you can look to add once in profit confirming the rally. Entering over a week would be better.
Good luck,
Ivan Labrie.
Trade active
Bought my first entry again here.
Note
$4 risk per shareTrade closed manually
I'm out for now, but watching. Yesterday 
PBF issued more stock in a secondary stock offering, this is why price didn't hold support. The close is an important reference now, so, we can label it with a horizontal ray in our charts and watch it as a significant key level.Trade active
Bought back at 26.75Note
Moving more or less as expected, already up 0.25% so far.Trade closed manually
Trade active
I got back in on a dip, last year haha.In some profit now.
Note
Support didn't hold, I had to sell calls against my long, to protect the downside. I'm long from this zone, it should be moving up now. I'm also in 
MPC for a few days, and HFC.
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