Stocks for the Rest of Us
AIPC: Everyone Loves Pasta
This is a purely technical trade (although I do love pasta). The setup is easy. The stock opened up on the lows today and bounced. I want to stop myself out below today’s low. The big volume on the up days shows accumulation and the low volume sell offs reflect simple profit taking after a big move. Another way to play this stock would be to establish a partial position here and wait for a pullback to 17 where previous resistance was. You can stop yourself out of that small position below the gap and add to it on the bounce off of 17.

AIPC
| Print article | This entry was posted by brian on January 8, 2009 at 8:18 pm, and is filed under Focus Trades. Follow any responses to this post through RSS 2.0. Responses are currently closed, but you can trackback from your own site. |
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