The Blackstone Group (BX), after a big price-volume surge in
September and October, has consolidated in the last two months in
the 13-14 trading range, which looks like it's ready to be broken.
The stock jumped 52 cents today, or 3.83%, on heavy volume, closing
near a multi-month high - at a key resistance level - which is
another indication we could see further advance in this stock. If a
breakout occurs I expect to see BX in the 14.70-15.10 range
short-term. Preferred entry (buy stop) price is 14.25, with a stop
at 13.75.
BX trade idea
Posted by curtis on 21st of Dec 2010 at 10:46 pm
BX our Free Stock Pick for Wed Dec 22nd 2010
The Blackstone Group (BX), after a big price-volume surge in September and October, has consolidated in the last two months in the 13-14 trading range, which looks like it's ready to be broken. The stock jumped 52 cents today, or 3.83%, on heavy volume, closing near a multi-month high - at a key resistance level - which is another indication we could see further advance in this stock. If a breakout occurs I expect to see BX in the 14.70-15.10 range short-term. Preferred entry (buy stop) price is 14.25, with a stop at 13.75.
BX
Posted by Michael on 22nd of Dec 2010 at 08:21 am
what I don't get is how is that a good setup, with a 1.00 stop and a .45 - .85 target?
isn't the stop .50?
Posted by frtaylor on 22nd of Dec 2010 at 09:16 am
isn't the stop .50?
thanks -- yes it is
Posted by Michael on 22nd of Dec 2010 at 09:27 am
thanks -- yes it is .50 stop.
bx pays a dividend too.
Posted by zach06 on 22nd of Dec 2010 at 08:38 am
I think BX has a special dividend coming up. I am short 14 puts and long 14 calls. kind of agressive... but so far so good.