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I apologize for the delay in posting this trade. Power outages continue in Northwest, Ohio from flooding due to heavy rains, and melting snow. We have been without power since just before 1:00 PM eastern today until a few minutes ago.
At 12:45 PM, actual volume for ANIK exceeded the previous day volume (PDV) triggering a possible buy signal. We focused on the PDV due to ANIK having the distinction of being in Dry Up and possessing a G33M4K Score of Zero. We had a slight price improvement of .01 ($8.61), MACD (+.0065) and The Stochastic Indicator (81.9955) both fell within desired parameters. As a result, we place a buy order for 1500 shares of ANIK at $8.61.
01/13/05 12:45:55 8.61 8.59 8.61 1500
We set a 5% stop loss at $8.18, and have a 10% target price of $9.47 Unfortunately, moments after setting the initial stop loss, we lost power.
Now, allow me to digress here for a moment, and state the value of using stop loss orders. When power went down, I didn't panic. Battery back-up allowed enough time to close down the system, and the stop order afforded me piece of mind. Although the power outage prevented me from knowing, until much later, the trade did not require the use of the stop order, having it in place eliminated a great deal of concern. As a result, I highly recommend a battery back-up system and the use of stop orders.
Unfortunately, power did not return until 6 hours after market close, and as a result, I could not set the target sell order. We will monitor tomorrow to determine if we should sell or continue to hold. We will also move the stop order up to break even at the open.
- Spydertrader