I am buying HMIN today and have done so with a limit order at $36.15. I am hoping that this stock will rise off the 55 day EMA (yellow line) after popping higher a few days ago with higher trading volume. It also comes from my watch list as being within a buy area. I also noted the stock is accumulating based upon the A/D line rising for the past few months.
I am going to scale into this trade so I bought 1/3 of my position to at $36.15.
UPDATE: 01.21.2010
Today the overall general market took a huge digger and this stock stopped me out at my 10% stop loss rule. Since I used 15% of my account, I lost 1.5% of my total account on this trade. There is the rule. Limit losses and let winners run.
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