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Strategies & Market Trends : LastShadow's Position Trading
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To: Jay Lyons who wrote (16429)7/1/1999 10:23:00 PM
From: Dave Shares  Read Replies (1) of 43080
 
BSX

The stop is set at 38 because there is support on the Point and
Figure chart to that level, at 38, a new sell signal is generated.
The tighter stop is definitely something to consider though. Risking over 10% on a trade isn't good when it doesn't work, no doubt about that (happened to me far too much)

A different approach to take with this trade is to let the stock give the buy signal at 44 and then hope/wait for a pullback closer to the
38 stop, and buy there. The only problem is if the stock runs, the train leaves without you.

Probably the best approach is to take 1/2 position on the breakout, and take the other half on the pullback.

The insiders own about 60 million shares according to Market Guide, so I'm not sure I'd be overly concerned about a million getting dumped, although admittedly, I'd rather see buying. The stock will break out if the demand exceeds the supply, and the insider shares are probably in the supply at this point.

Thanks for the feedback Jay and AT,

David
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