Monday, April 20, 2009

Stop Placement on BGZ

So far this morning, the scenario I suggested last night is playing out very well. I believe that allows us to put a protective stop in place on BGZ with basically no risk of it getting hit if the expected scenario continues to unfold. Then my plan is at the next short-term oversold signal to move the stop loss point to breakeven, so that we can attempt to hold longer because of the possibility that we got in right near a significant top.

On that note......

Place a "GTC sell stop" order at 45.40 on the current BGZ trade until any further instructions are given. This will limit the potential loss to less than 3%, which is many fold less than the potential reward % on this trade.


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