Monday, December 10, 2007

MYE -gift

Another gift from MYE:

Myers says GS Capital seeks more time to complete acquisition

I personally already took profits on this late last week, but am back in it this morning after reading this and other reports on the deal. The gain to completion from current levels is now close to 50%.

A

5 comments:

Eric said...

Hi Allan,

On these type of swing trades, do you still adhere to not risking more than $100?

Thanks for the tip.

Eric

Allan said...

Eric, my $100 stop applies only to my momentum day-trades, that are almost by definition running when I buy and should not pull back to show any red on my screen at all; if they do, something is wrong. Anything I trade in a longer time frame uses either no stop or a trailing stop or a chart-based stop.

A

Anonymous said...

I got stopped out on this thing at 21.00.

Oh well. Still not a bad gain , but I gave a lot back.

Leonidas
Southern Greece

Eric said...

Allan,

Just curious - do most of your profits come from position trades like this or from momwntum day trades?

Eric

Allan said...

Eric,

My bread and butter are momentum day-trades, mostly all winners and cash at night.

A