Place your bets! Quiz #3

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Sorry guys....was a long weekend...half asleep.
Didnt notice the graphic was too large and got
rejected.

Graphic is a little crusty. Took many tries to get it
under the 100k limit.

You may now re-place your bets.

peace

axeman
 

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You cant wait.... this is about managing a random entry.
You may exit with a 2 cent commish loss immediately,
or play the position.

peace

axeman


Quote from QQQBALL:

id look potentially to go short near the $50 level
More...
 
hmm, Do I want to go for the profit or play it straight. It looks like it will head down but not before taking out everyone's stops.

Cover now. pay the .02 cents.
 
2 cent loss

reasoning:

futures pretty much filled the opening gap. there was also a lot of selling volume at the bottom. the major moving average is also there for support. so i'm more bullish than bearish on the futures.

the stock is in a downtrend, but major volume has come in. possibly short covering? a downsloping trendline can be drawn from the open, which extends to above the red moving average. i'd be more bullish than bearish below that point.
 
I'm guessing that from the time scale that there is a whole day for this to pan out...

... with that in mind, let me go for a little 1.5:1 (reward / risk) action.

Stop 50.03
Target 47.53
 
stop at 49.75
first target 48.50 - if it doesnt break, look to take profits or breakeven
if it breaks below 48.40 move stop to 48.50
next target 48.10
 
that vol spike makes it look like it has some upside so i don't like being short here...so tight stop....

stop 49.18
tgt..48.60
 
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