Here are a few stocks which appear to be setting up nicely for next week. The ff trading plan offers a reward to risk ratio of around 2:1. The stops indicated below should serve to limit potential losses in case the setups disappoint. This means that if I enter a position, I have pre-accepted a potential pre-determined amount of loss in case the trade does not go in my favor. If the setups bear fruit, take profits sensibly. We are in the midst of a bear market so this rally can turnaround anytime. Consider your risk tolerance level when sizing your trades. Good luck.
STOCK|TARGET|STOP|ENTRY
BDO | 37.00 | 24.00 | 28.50
BPI | 43.00 | 33.50 | 37.00
FGEN | 28.75 | 21.50 | 24.00
JFC | 52.50 | 43.50 | 46.50
MBT | 37.50 | 25.00 | 29.50
PLTL | 10.60 | 8.00 | 8.90
STOCK|TARGET|STOP|ENTRY
BDO | 37.00 | 24.00 | 28.50
BPI | 43.00 | 33.50 | 37.00
FGEN | 28.75 | 21.50 | 24.00
JFC | 52.50 | 43.50 | 46.50
MBT | 37.50 | 25.00 | 29.50
PLTL | 10.60 | 8.00 | 8.90
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![[Most Recent Exchange Rate from www.kitco.com]](http://www.weblinks247.com/exrate/24hr-jpy-small.gif)
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4 comments:
Hey Boss, nice to see that 2 of my target stocks made it to your list, BPI and JFC. Would you buy those stocks at the close at any price? Regards.
hi boyc... to answer your question "Would you buy those stocks at the close at any price?"... (a) ideally, i will try to buy the stock at or near the designated entry price in order to keep the RRR of the trade to a minimum of 2:0...(b) due to the characteristic volatility of the current bear market where most rallies/run ups do not behave in an orderly fashion, i find that waiting for confirmation at the close often results in slippage and lost opportunity. the way i cope in this crazy environment is to buy early at or near the entry price and by doing so i accomplish the ff: (i) if the trade is successful, i catch a big part of the move up and (ii) if the trade fizzles, barring any slippage, then i limit my loss to a pre-determined amount because my entry price hasnt moved too far away from the protective stop. good luck
correction to my previous comment: "...in order to keep the RRR of the trade to a minimum of 2:1"
Thanks Boss, now I see why some of your entry points are uncharacteristic of you. It also probably explains why your stops are more aggressive. Yup, good luck and please attend our daily chat hehehe..
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