No Cerveza... No Trabajo
Join Date: Jun 2002
Location: Where's my beer?
Playing the market
Here is the setup I played this morning.
The Qs have been toying with it's 20 day moving average for a few days. I purchased some when it broke over 33 this morning and the trade has a potential of hitting its 50 day moving average around 37.
I have a fairly tight stop just south of the 20 day moving average at 32.00. The 20 day moving average should play support for the trade but in this market you never know.
If it does pullback a good entry would be around 33 after it trades down to 32.60 or so (20 day moving average support) and trades back up to confirm again.
So, risking $1 for a potential $4 dollars.
My 401K is now a 400K (was 301K)