This Is Why You Should Always Use Protective Stops In Your Trading
I liked the way
Cablevision Systems (CVC) closed yesterday. After pulling back from
the January 24 high, the issue formed a narrow range bar just above a support
line. It appeared CVC was ready for a rally.
10:29:27
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
|
Buy |
CVC | buy stop at 27.43 | pullback | 27.24 | 27.75 | 27.38 |
TK |
The stock gapped up at the open and
immediately sold off. As you can see below, CVC held above the 50% retracement
level (from yesterday’s low to today’s high), and looked poised for a rally. I
placed a buy stop at 27.43. But, the issue did not give us the result we were
looking for. It failed to take out 27.50, and eventually hit our stop price of
27.24. Remember, always place stops to protect your positions!
T.Kamada
Feel free to mail me your
questions.
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