Yea, I got a question about that (Matt/Steve). Where's an
objective spot to take half off? JAZZ: I got in at
4.5. After that 1st run up to 5.7 I took half off. I
didn't use any indicator. It just looked like a good place to
take some profits. Well, we know what happened next.
PIR: I got in at 2.51. I told myself I would wait for an
indicator to tell me to take half off. By time the 5' 14-3
and 60-3 Stoch and MACD rolled over PIR was back down to
2.55. So, any recommendation how to make an objective call on
these breakout stocks? (I see PIR may be back on its way
up).
It's totally subjective and up to your trading objectives and
risk tolerance - I tend to take profits quicker when trading
against the overall market action (especially after such a large
move). But again, just manage the trade according to YOUR
style. You can use a 1 or 5 minute chart for a guide near
term.
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pir head fake
Posted by macnsc on 29th of Jul 2009 at 11:27 am
Hope anyone who triggered on PIR at 2.50 got out...
PIR vs JAZZ
Posted by jd111 on 29th of Jul 2009 at 11:54 am
Yea, I got a question about that (Matt/Steve). Where's an objective spot to take half off? JAZZ: I got in at 4.5. After that 1st run up to 5.7 I took half off. I didn't use any indicator. It just looked like a good place to take some profits. Well, we know what happened next. PIR: I got in at 2.51. I told myself I would wait for an indicator to tell me to take half off. By time the 5' 14-3 and 60-3 Stoch and MACD rolled over PIR was back down to 2.55. So, any recommendation how to make an objective call on these breakout stocks? (I see PIR may be back on its way up).
It's totally subjective and up
Posted by steve on 29th of Jul 2009 at 12:00 pm
It's totally subjective and up to your trading objectives and risk tolerance - I tend to take profits quicker when trading against the overall market action (especially after such a large move). But again, just manage the trade according to YOUR style. You can use a 1 or 5 minute chart for a guide near term.