Tuesday, May 26, 2009

Price Target For Potential QID Exit Today

I will be away for most of the day today, so I am going to suggest keeping the previous sell stop in place but also suggest a target price to sell QID if it is touched today.

Check the high price on QID today, and if at any time price exceeds 39.91, cancel the current sell stop order and sell the QID trade with a market order.

A day only limit order of 39.91 could be placed instead, but that would probably mean you have to cancel the protective stop order and leave a little risk of the trade going negative if the market managed to put together a big gain today. I don't think that is very probable, but you never know.


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