Bought my first position here for swing trade 2.15- 2.25 long this am. Usually I'm not swing trading this market, but WCOM at 2 is tempting. ken
using .5 res eg use trail stop 2.45 .. for a swing trade, trailing stop would be at the entry max .. good for a clip
I'm in WCOM friday at 1.73. Broke all my trading rules with the buy, but what the heck, position is chump change anyways...
Pristine has guided its minions to buy above $2 so watch for it. I know they can't move such a liquid stock but there may be a tonne of buy stops so just be careful.
Yes, Pristine says buy at >$2 and have your stop at $1.48. That seems to be about 25% of your position. I would like to know how in the world they came up with their stop at $1.48? This sounds like a humongous stop to me...
Yes, how do they come up with a stop at $1.48? Maybe there is lt support at $1.50, I can't find a chart LT enough. With most likely strong resistance at the 20dma, currently at $3.50 and dropping fast, I don't see how a stop at $1.48 is good Risk Reward. Looks like WCOM's opening above $1.90 this morning.
Another interesting point about Pristine is that they expect a $1-3 advance within the next few days. Do they really think WCOM will bounce all the way back to $5 in a few days? I will eat my hat if WCOM bounces back to $5 in a few days...