Discussion in 'Stocks' started by jmiles301, Jan 13, 2006.
gapped up on heavy volume to a 3 month high (breakout from a 2 month trading range)
I see a pullback to 20.50-21 area first if it to break out..but I also have no idea of any news etc..just a quick look.
thanks for the heads up
A retest of its previous highs is a definite possibility. I usually scale into breakout plays with an initial entry of 1/2 overall risk allotment for this purpose. If it does retest, and holds, then I will add the remaining 1/2.
I personally try to play both sides of a trade.
I would look to short ie at 21.88-90 area exit 31 and when it retest a support I am comfortable holding a position at I start to scale in.
safe support for me 1950 area...so I would look to write a put Jan/Feb depending on premium and wait..
good luck with you trade, appreciate your notice on a possible trade
The news responsible for the move was by Piper Jaffray upgrade to outperform from market perform. It's less than four bucks away from it's all time high.
Thanx for the alert
Separate names with a comma.