Wednesday, October 18, 2006

Today's Trade and Chart: TIE

I went short 400 shares of TIE (Titanuim Metals Corp) at $29.57. I have placed a stop just above $30 resistance. Stochastics are extremely overbought, but have not turned over yet, so I'm in this trade earlier than normal. Also, the stock has moved up to resistance on healthy volume, adding more risk to this short. To combat the risk, I went with a smaller position size and an aggressive stop.

1 comment:

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