GREY:AXXDF - Post by User
Comment by
Shmoogson Mar 19, 2013 12:50pm
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Post# 21150653
RE: RE: Re-ratings are here......Via Grandich!
RE: RE: Re-ratings are here......Via Grandich! Art365:
The reason why I picked the $1.38 stop loss is because that's what the technicals on stock charts showed using the 50 & 200 day moving averages. I then took that data and realized that on Friday March 15 before the news release ADV opened at $1.42 so I can't imagine it going under $1.42 and if it did there would be a short term sell off that can drive it back to $1.20 levels. So $1.42 would trigger fear and I then left a buffer from $1.42 to $1.38 in case it doesn't draw a fear selling rally down.
If that was to occur I would back up the truck once again ! I sold my whole position at $1.80 to $1.77 and took a little position at $1.60. I will take a bigger position if we see the $1.20 levels again but I doubt that. Either way keep your stop loss in cause in this market you never know and always make your decisions based on what you can afford to lose.
If you are long and not trading at all the stop loss seems to be really good at .98 cents.
Good luck.