Monday, September 25, 2006

Today's Trade: GG

I'm seeing some of the same divergences in gold stocks that I posted in HAL last night; specifically stochastics, MACD and RSI all moving up while price has moves down. I decided to take a position in GG instead of HAL since PBV bars in GG indicate support close to my entry.

I bought 300 shares GG at $21.71, with $21 the most likely stop price. This is a risky trade that I would not advise to those without a high risk tolerence, which is why I went with a smaller position size than normal.

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