Thursday, October 4, 2007

Position Update: PTT



I've added a suggested trading range to the chart. It looks to me as if PTT has completed a pullback to support. While the pullback swung my account to a loss of $500.00 in the position, I stayed with it. I do not typically let trades turn into losses much greater than $500.00, so it was do or die. Indeed, PTT bounced, albeit from about .35 cents lower than I had hoped it would find support.

As long as the indexes do not begin a new leg down, and PTT continues to move back up, I am looking to see $10.00 before another pullback.

2 comments:

IIO said...

I was looking at the chart just yesterday hoping the same thing. You have alot more money riding on this than I do. I hope it can move up again today. The volume seems to be there.

JakeGint said...

What's this Akorn thing all about?

Dammit, I don't know why you waste your time with that Mafia stock, titties and beer or whatever the hell it is.