Thursday, April 8, 2010
Closed SVN Short
I closed my short position in SVN for a loss of about $170.00 including commissions. SVN just has not broken down but instead has formed a bullish pattern. So I am now stalking SVN along with ABCD for long breakout trades. The setups along with entry triggers are shown above.
Well I was stalking ABCD, but TOS keeps triggering my buy stop orders for ABCD that are way above the market price even though the ask price has not reached my buy stop. This is the second time now this has happened. The first time I lost about $40.00 including commissions!
Well they have done it again. So now I am long 500 shares of ABCD @ $4.75 when my buy stop was for $4.80. Well I just put in a stop loss at $4.50. I will hold ABCD and see what happens.
In the mean time I am still looking to go long SVN or possibly short should it some how break down instead of breaking out. DYP is also setting up. Could be a possible long tomorrow.