Wednesday, September 15, 2010

APWR IS IN A BUYING AREA


I was scanning my charts and noticed this one being set up for a nice run. Part of the problem is that the overall market is in an oversold area and meeting resistance. This would potentially knock this stock back down since stocks follow the overall market 65% of the time. But since this is a long-term trade, I want to take this as an opportunity to buy it. I will then place my insurance policy and have someone else pay for it. 

So the trade was entered at a price of $6.30.  The intent is to let this trade move up to the $7.30 area and begin to enter the "insurance phase."  

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