Trading Goldcorp

Hope everyone had a good holiday. Back to business, we had a nice week last week with some big action in some names we trade. Goldcorp GG:nyse was one of them, a name which I have been trading for most of my career. Risk aversion ahead of the biggest holiday of the summer was a given. Now however we are past, the question becomes to fade or not to fade. Fading behind major top and bearish formations can be quite risky if one does not use tight risk management.  $41 is looking like a very strong number and should GG hold this number for  a little while right now, I am looking to take this with a tight stop at 40.75. There is risk to 40-40.40 so caution should be taken on entering the trade. When entering a trade such as this, ask yourself if you have a little pnl to risk. If you do not you will not miss the trade, just wait for a higher low from the last low getting long once that low is established. Money management is also an important factor so should the trade work out or makes or nears the high for the day move the stop to just under yesterdays close. Get money!!!

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