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

To: Tommaso who wrote (10630)	12/3/2006 10:11:52 PM
From: chowder	Read Replies (2) \| Respond to of 13449

>>> Entry above $36.88. Profit target $3.00 to $10.00. Initial stop loss $33.25. <<< The way I play these set ups is that I buy 6 to 12 cents above the entry target, depending on how the stock opens. Therefore, my entry target is $36.94. If the price gaps higher than that at the open, I wait 30 minutes and buy above the 30 minute high. If the entry target isn't hit tommorow, I will give it a few days to see if it does. If the trade triggers, my profit targets say to hold the position until the first profit target is achieved, or the initial stop loss, which ever hits first. So, price action will determine the time the position is to be held. I hold until the profit target is achieved or the stop loss is hit. Once the first profit target of $3.00 is obtained, I sell 1/2 of my position, locking in those profits and hold the remaining 1/2 position for the second profit target, raising my stop loss as the price continues higher. Does this answer your question? dabum