Thanks for your thoughts Steve. I had placed a stop at about 5.7
to give it a good amount of room but now just wondered if it would
be appropriate to move that stop up or would the volatility take it
out? I have done some fundamental research on the stock and they
aren't yet profitable but have a lot of potential. I like it for a
swing trade but just want to have some type of stop in mind and
also wonder if it would be best to make it a mental stop so the
volatility doesn't take it out.
oreo - personally, I would move it up to near 6 (mental or not)
as it should not retrace past that level if it intends to go up
now. I can always rebuy later if it fails here.
algyros - the stop would largely depend upon one's trading
strategy and risk tolerance, but after today's action, I sure would
not want to see it go below today's lows at 53.60.
Personally, I would watch these stocks closely if trading
since they tend to be wild swingers since most investors have a
hard time analyzing these companies. Should it get follow thru
tomorrow, look to raise stops again and or consider taking some
profits depending upon your strategy.
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Thanks for your thoughts Steve.
MCP
Posted by oreo on 21st of Jul 2011 at 05:16 pm
Thanks for your thoughts Steve. I had placed a stop at about 5.7 to give it a good amount of room but now just wondered if it would be appropriate to move that stop up or would the volatility take it out? I have done some fundamental research on the stock and they aren't yet profitable but have a lot of potential. I like it for a swing trade but just want to have some type of stop in mind and also wonder if it would be best to make it a mental stop so the volatility doesn't take it out.
oreo - personally, I would
Posted by steve on 21st of Jul 2011 at 05:31 pm
oreo - personally, I would move it up to near 6 (mental or not) as it should not retrace past that level if it intends to go up now. I can always rebuy later if it fails here.
Thanks Steve, that makes sense!
Posted by oreo on 21st of Jul 2011 at 07:07 pm
Thanks Steve, that makes sense!
If you don't mind Steve,
Posted by algyros on 21st of Jul 2011 at 05:39 pm
If you don't mind Steve, could you also recommend a stop for MCP?
algyros - the stop would
Posted by steve on 21st of Jul 2011 at 05:45 pm
algyros - the stop would largely depend upon one's trading strategy and risk tolerance, but after today's action, I sure would not want to see it go below today's lows at 53.60. Personally, I would watch these stocks closely if trading since they tend to be wild swingers since most investors have a hard time analyzing these companies. Should it get follow thru tomorrow, look to raise stops again and or consider taking some profits depending upon your strategy.