Thursday, April 15, 2010

Purchased TLR, ASTC Update

TLR

I entered a limit order yesterday at $1.05, and did same thing again today and ended up getting filled in.  I may have liked to watch it confirm this support range down here, but a few weeks ago it tested this area and bounced as well, so that was good enough for me.  My stop loss here is going to be triggered around a break of $1.02, giving it some room to fluctuate so for good measure we'll say $0.99 for tomorrow, but I plan to keep increasing this as I want that bottom trendline to hold, but may make a sacrifice of using the $1.04 support if it falls outside a few days.  Target area is going to be in the $1.20 range, but the goal here is to breakout out of the flag/symmetrical triangle/whatever you want to call it, and bust new highs.

ASTC

Pretty wild day if you watched every tick, I thought I was about to be forced out of this trade, but that $3.39 was tested and held its ground.  The stock would drift lower on low volume and once it was there, it was soaked up with strong buys pushing it higher.  The bid seems fairly thin at times which is scary as I am not sure I can unload all 1000 shares at the same bid price, I may have to break apart this sale, or spread it across two sell prices with a market order.  We dipped a bit below the trendline (and actually looking closer $3.39 - glad I didn't see that).  We recovered back inside, and if all goes well should be testing this $3.65ish area of resistance that it hasn't been able to break and stay above.  It might be hard to hold onto this guy up at $3.65 without selling as that would mark a $400 gain or so, but this might have more legs if it does break strongly. Stop loss is convincing break of $3.39 support as before.

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