Market Flogging

Trend trading in the stock market

Monday, April 23, 2007

Stops for the week

I set my initial stop the day I buy a stock, and I evaluate them sometime between Friday's close and Monday's open. As a trend trader, it really isn't important, or even healthy, for me to be messing with stops more often than that. Of course, this is dependant on the type of trend being followed. Traders looking to pull the trigger on a moving average crossover or something similar need to keep closer tabs on the price action. Me, I'm simply holding a stock until it reaches a price where I don't want to hold it any longer. Most often, my stop goes just below the stock's previous low within the trend. Sometimes it will go below a moving average line that has been acting as support. Still other times, I'll use a hard drawn trend line as my stop trigger. In any case, I put in a tight stop during the weekend, and with any luck, it becomes a loose stop by Friday when I tighten it up again.

Here's where I set my stops for this week:

OI - 26.00
DYN - 9.10 - NO CHANGE
CNW - 51.00 - NO CHANGE
AGU - 40.50
ARW - 39.25
UBB - 96.00
DSTI - 5.00 - this one is dead to me. I just pushed my stop up to where it can't go down much.
MCHP - 35.50
ZMH - 85.00 - NO CHANGE
NVDA - 29.00
TIVO - 6.25
BEAV - 31.50 - NO CHANGE
MSFT - 28.20
CAT - 68.00
CG - 73.00 - NO CHANGE
FPL - 60.00 - NO CHANGE
IR - 43.50 - INITIAL STOP
HIMX - 5.50 - INITIAL STOP

I was planning on adding charts, but for the life of me I can't figure out how to place them directly within or below text using the image feature. I'm bad at the internet. And I don't want to take the time and space to host them in my Photobucket account. At some point I'll probably buy a domain of my own and do this thing right:)






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