Monday, November 19, 2007

Pay Stopped Out

Went long on a massive wide spread decline. I thought I might be able to duck and run as the bullets were flying by my head. I got in on PAY at 44.81 which is a pretty high price in retrospect. I bought on a huge tall shadow and then it fell big time and slowly made its way to where I got in and then basically declined after that.


It was strong at first and then remained strong for about 30 minutes after everything started to decline and then PAY finally broke down and gave in to the wide spread selling and started selling off as well. My initial stop was around 44 but I raised it to 44.20 where I was finally stopped out.


pay trade chart

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