Wednesday, February 04, 2009

Today's Trades: CBI and PNRA

CBI: 200 shares at $11.00

This stock, as with most of my trades, was mentioned in the Trade Report last night. It's holding above both the well formed trading range and the 50 day moving average, providing a low risk, easily managed traded. Stochastics are oversold and turning up.

Risk: My stop is under the 50 day moving average (10.50) and my intitial target is near the recent high in the 13-14 range. This gives me a 5:1 reward to risk ratio.

I also went short 200 shares of PNRA at $47.83. I will post a chart later today.

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