Monday, June 04, 2007

Today's Trade: TMX

I bought 400 shares of TMX at $40.88. It has been on my watchlist since May 20th. Mexican stocks have been on a tear, and I'm using the consolidation after the latest breakout as a jumping point. Any thoughts on this trade? Was the last breakout a continuation or exhaustion breakout? Only time will tell. I will likely place my stop at $39.50, which is just below the breakout point.

4 comments:

MillionDollarJourney.com said...

Did you mean you bought @ 40.88 instead of 41.88?

The Market Speculator said...

Thanks for catching that, MDJ.

Anonymous said...

Hi, I have been reading your blog and I too like to trade pullbacks. I have learned from your posts.

There's a lot of volume on this pullback. Any thoughts on this? Thanks.

-rene

The Market Speculator said...

While it is alot comparted to the 90 day average, it is declining compared to the past couple of weeks.