Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Strictly Buy and Sell Set Ups -- Ignore unavailable to you. Want to Upgrade?

To: XiaoYao who wrote (6239)	11/21/2005 11:44:03 PM
From: chowder	Read Replies (1) \| Respond to of 13449

re: ACN ... XiaoYao, ACN performed just as anticipated back around the beginning of November. Congratulations on your profits to date. This pull back doesn't look like a downgrade sell off to me. It looks like some people wanted to lock in some profits. The last two candlesticks are showing bottom tails which indicate that demand is coming to market when price tries to fall. There is still room for some concern though. You may be right, ACN may pull back to $27 before it can go forward. Why risk it? In looking at short term trading, it's important to keep as much profit as possible. I would sell if the price traded below $27.50 in the coming days and if I were still interested in the stock, I would buy it back when it came back up above $27.50. I might add, if I were looking a little longer term, I would sell 1/3 or 1/2 of my position if price traded below $27.50 and the remainder of the position if price dropped below the 20 day moving average. stockcharts.com[h,a]daclyiay[d20050921,20051121][pb50!b20!f][vc60][iut]&pref=G By selling part of your position, you lock in some gains and you still benefit if the stock decides to move back up. If price falls further, you still lock in some profits to offset any additional losses and the eventual loss, if it were to come, would be minimized. Support for the last 2 days has been $27.50. That's the price that should trigger some action on your part. dabum