4c – Breakout for QLGC | Stock Commentary

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4c – Breakout for QLGC

Sep 27th, 2007 by Trader-15

QLGC consolidating for about 7 weeks after a large volume (33 million) down gap on the 27 July 2007. It looks ready for a breakout with volume above Vol(20EMA) in the last 2 sessions and higher closes. BB very close together.

Note:

Question for Tony: Does your comment on NTRI with respect to “consolidating from its high volume down” applies in this case ? Is overhead supply something to consider in this case ?

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Posted in Stock Trading Class | 3 Comments

3 Responses to “4c – Breakout for QLGC”

on 27 Sep 2007 at 8:40 am1Trader-15

QLGC went up to 13.25, moved stop market to 13.16. Stop triggerred and position closed at 13.16. Reward: 0.13
on 27 Sep 2007 at 1:55 pm2Trader-15

At end of market day : (with 2020 hinsight ) :

Intraday day low was 13.04 (Initial Stop was 12.93). Day high 13.37 (Target was 13.35). Keeping original stop would have been perfect ! Ouch !
on 27 Sep 2007 at 3:49 pm3Tony Oz

“Keeping original stop would have been perfect ! Ouch !”

I hate when that happens! In a bull market, we can often trade on 3:1 with no trailing stop at all and get away with it. In other words place a trade and have an OCA (one cancels all) with two orders:
1. Close trade at price target
2. Close trade at stop loss

Bring this to my attention in class and I will discuss further.

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4c – Breakout for QLGC

3 Responses to “4c – Breakout for QLGC”

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