Question, re stops, in respect to INTC trade on Thursday AM:
INTC is one great company, however, there was news that day that could possible make it volatile, (a day traders best friend). On one had they were holding an analysts conference and were expected to enroll some new layouts, potentially new directions, products etc...
FUTS were up and taking a look at the chart, INTC appeared to have bottomed the day before (Wednesday): finance.yahoo.com
This is why I went long INTC in the first place at open, it was either going to confirm my direction or not. After moving up for the first 2-3 minutes in started giving back, that was my sign to bail. At the exact same time I read a slightly biased negative report from briefing that analysts had concerns over capex spending, and also in my mind is the fact that they had recently slashed prices on P4 chips, (another negative). I closed out the trade immediately and posted on SI to stop out. That been said, if I were to post hard stops they would have either been super tight, ie 29.95 ( I never use round numbers) or more then likely been below 28 as that is where INTC has short term support and would expect it to bounce. However, any daytrader would have shorted and been happy to take the two points down and then gone long. Guess you must decide early in the game if you are an investor or a daytrader, and stick to it. Hope that helps..
Sharck |
