DCLK
I tend to prefer instant executions as all or none, but in reality, for a position trade 100 or 200 shares is fine.
The immediate entry looks to be around 24, which was my buy, but the longer trendline says it might be had for as low as 22.5 and still be above the trendline. DCLK has had intraday swings as much as 3.5 points and still be uptrending (last Thursday).
Stop losses are really a matter of personal risk tolerance and the reasonable trading bandwidth of the stock. personally I will set a mental stop of 22 and gauge the intraday if it hits that. the mm's haven't been to greedy about grabbing this ones shares of late, but if the stock starts to move, they will.
In terms of my exitstrike price, I am looking for it to go to the low 30's before I reconsider an exit (I view this as a possible hold through year end). My forecasts say its possible for it to hit 40, and the net actually went long on it about 3 days ago (well, I don't have time to check all of the stocks...).
If you can watch the tick, play the stock as it opens, as I am sort of expecting a down day. If not, I'd set the limit entry at 24 and recheck it at noon.
Remember though, this is a positon trade, and not a daytrade. I am still long on ZITL, PETM and TEAM, and plan on taking postiions on some of the Watch List on thenext post.
lastshadow |
