Posted on July 1st, 2009 at 12:00 PM
I wanted to post a quick update on the money management plan concerning the trade that was mentioned a couple of weeks ago during mentoring . At this point, we are in the money with a couple of areas where we should have been taking some profits and thus reducing our exposure. One of the key aspects to this trade was giving it enough breathing room by using the displaced moving average as a trailing stop.
We are still shooting for the MOB Target of $21-$20 as of June 29th, but so far things are progressing in a profitable way. Good trading to those who capitalized on this Type II Setup!
~Duane Gott
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