Stop placement is tricky since the pivot area is near the 50 day moving average, which also provided a good entry. If one has an appetite for taking more risk, the stop can be placed under the moving average.
Thursday, June 11, 2009
XBI Chart
Biotech has made a nice run and has pulled back to a nice entry level. I already have a position, with a stop placed under the pivot point.
Stop placement is tricky since the pivot area is near the 50 day moving average, which also provided a good entry. If one has an appetite for taking more risk, the stop can be placed under the moving average.
Stop placement is tricky since the pivot area is near the 50 day moving average, which also provided a good entry. If one has an appetite for taking more risk, the stop can be placed under the moving average.
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