Fatigue And Resilience
The breakout leaders behaved generally
well Friday, although a few stocks are looking tired.
Metro One Telecommunications
(
MTON |
Quote |
Chart |
News |
PowerRating)
is an example where one might consider taking half profits and moving up one’s
stop.
BE Aerospace
(
BEAV |
Quote |
Chart |
News |
PowerRating) and Reebok
(
RBK |
Quote |
Chart |
News |
PowerRating)
are basing here, and may offer setups in the future.
International Game
Technology
(
IGT |
Quote |
Chart |
News |
PowerRating) is consolidating nicely on low volume above its old base.
All stocks are risky. In any new
trade, reduce your risk by limiting your position size and setting a protective
price stop where you will sell your new buy or cover your short in case the
market turns against you. For an introduction to combining price stops with
position sizing, see my lesson, Risky
Business.