Wednesday, February 27, 2008

ERES- Better Than a Loss

Traded ERES this morning. It was none of the stocks I was watching but I saw it move and move in a straight line and jumped in at 11.88 which I knew was going to be pretty lat in the game but I thought I could squeeze some cash out.


I let ERES run for few minutes and 12.20-12.25 was a key range I thought because it was the price level where the stock has hit twice before and declined. Like a double top kind of thing back in Oct. and Dec.


So I see it running up to that level and it seems to be hovering like I thought it might. Although it never decided to decline but that was after I sold out. I got out at 12.17 because the bid immediately dropped from 12.20 to 12.17 as I was just hitting the send button. So I got screwed on that part and I got screwed on me not wanting to stick it out and let it run.


My stop was 25 cents from entry which would be at 11.65 Low enough to stay out of the fluff but not too far where I'd take a big hit.


All in all. It was good that I followed my initial game plan but I shouldn't of sold a stock that was moving straight up lol.


eres trade chart

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