Wednesday, January 17, 2007

Today's Trade: REDF

I bought 500 shares REDF at $19.11. The stock made it to my primary list last night. After doing my sector review, I came to the conclusion that internets are breaking out and look like they are setting up for a big move. After narrowing down internet stocks, VCLK, REDF and and KNOT made my primary list. I went with REDF since it features good risk reward, positive on MACD and it was nearing short term resistance at $19. My stop will be placed just under price and moving average support at $17.90, with an initial target of $21.


Anonymous said...
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Anonymous said...

Are you using TeleChart 2007 for your charting service? If you are not you should...


I use it for scans every night. Check for breakouts...great software, worth every penny.