Sunday, September 07, 2008

Trade Entry: POT

I bought 150 shares of POT at $150.62 (trade posted on blog Friday morning).

The Setup: Oversold Bounce. Extremely oversold stock within bearish downtrend (topping formation). Stochastics extremely. Price is at March support levels.

Risk: Stop is now at entry level. Initial target of $160 hit. Target for remaining 75 shares is $170.

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