Personally, I use the depth of the consolidation right before
the breakout to gauge a good sell point. Basically, if you measure
the depth of the consolidation (I'm usually pretty conservative
with that), and then you measure up from the breakout point, then
generally one might do well to sell within that space. With this
chart, I would personally would have sold about $1 or $1.25 (at
most) above the breakout point, or between $11 (or a bit below it,
since it's best to set profit targets a bit below round numbers) to
$11.25 (where it ended up stopping anyway). However, since today's
move was on fantastic volume, I might have sold half near the
close, and then kept the other half to see what might happen next.
I hope this helps a bit!
Personally, I use the depth
NAK broke up
Posted by user32 on 9th of Dec 2010 at 09:20 pm
Personally, I use the depth of the consolidation right before the breakout to gauge a good sell point. Basically, if you measure the depth of the consolidation (I'm usually pretty conservative with that), and then you measure up from the breakout point, then generally one might do well to sell within that space. With this chart, I would personally would have sold about $1 or $1.25 (at most) above the breakout point, or between $11 (or a bit below it, since it's best to set profit targets a bit below round numbers) to $11.25 (where it ended up stopping anyway). However, since today's move was on fantastic volume, I might have sold half near the close, and then kept the other half to see what might happen next. I hope this helps a bit!
Thank you, this is just
Posted by baker on 9th of Dec 2010 at 10:11 pm
Thank you, this is just the kind of fishing lesson I was looking for ;-)