Friday, March 19, 2010

Stopped out of CHOP.

I was just stopped out of CHOP and now I am back to 100% cash. I lossed about $161.00 including commissions. This is a bit more than the maximum loss I usually like to take but with the quality of the set up and market conditions I was willing to take some extra risk on this trade. I will definitely be keeping an eye on CHOP for another of my favorite set ups; the swing trap which I learnt about over at www.swing-trade-stocks.com . You can go there and check it out this is one excellent site especially for beginning traders.

I also like Visa which I mentioned the previous post and also Apple which appears to setting up a bulllish flag/pennant pattern.

This is the time to really keep your eyes pealed. Pullbacks usually result in the formation of beautiful set ups in leading stocks. So stay sharp. Good luck and good trading.

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