Wednesday, September 26, 2007

CKP Setup

Found a decent looking setup using my new system. One that I'm going to stick with forever. Includes stocks that have made quadruple tops are riding support and trading at least 250,000 shares. Stock needs to have the potential to make 5-7% while risking a max of 3%


I don't know if I'll trade this right away. It needs to hit the $27 dollar level before I even consider. If it does hit 27, I'll start looking for a lower entry point if possible. I'll setup a stop around 26.35. If it gets close to 27.85 I'll consider selling if it can't break these levels. If it does start piercing these levels I'll definitely hold onto tight as we'll probably be going higher.


One thing I'm going to change is I won't force a trade. Something that I think I've been trying to do the last week or so. I need to wait for the really good looking setups, instead of the mediocre ones. That's something I going to try and work on. The setup below would be close to mediocre, in my opinion.


ckp chart

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