Medium term, CLF has been correcting for months. It may be turning, now, for another run up. When this thing runs up, it REALLY runs.
Bought more @ 6.61 on top of my existing position (bought at 6.44).
Setting a break-even stop under today's low. Hopefully, it may just pop and leave. If not, I get taken out with no loss.
I have found this trading style to get decent results: - Buy a potential turn with a small position and very tolerable risk. - If it moves up, and a longer term trend has the potential to develop, use the small profits to cushion a bigger position for lower or no risk.
Trade closed: stop reached
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It looked good yesterday into the close and bad today. Such is life, I had high hopes.