Friday, March 27, 2009

Game Plan - 3/27

Check out my graph from my review here:

2009-03-27_0128

I see trade support just below 82.75, though it broke through there yesterday. This may be a weak area.

However, the trend support (sloping upward line it bounced off today) is going to converge with the trade support, creating a perfect storm for buying and killing bears. 

I will set a limit buy @ 82.75 for 48 shares. Once purchased, the stop will be at the base of the trend line, which will go up throughout the day. I'll be here to watch things. To prevent some catastrophe in the mean-time, there will be a standard 8% trailing stop on it.

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