Monday, December 18, 2006

Today's Trade: PENN

I bought 500 shares PENN (Penn National Gaming, Inc.) at $41.06. I usually like to wait for stocks to pullback after breakouts over resistance, but the volume was so strong towards the end of the day that I suspect we could see more upside without a pullback. Even if the stock does pullback, I'll be patient and let my stop, set at $39, work for me. At least that's the plan!

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