Monday, November 16, 2009

Alert: SVM

The phony rally is on in the broader market, and judging by the volume there, no one is buying it; they are buying the metal stocks instead.

We went long 50 shares of SVM on November 11, at $5.69. Now it's up nearly a buck at $6.47. The stochastic is flashing overbought as it should since the trend is up. But the price is the only arbiter of profits. With that said let's pick up or remaining position right here, with a $2.0 stop.

Buy 50 shares of SVM at $6.47.
Stop at $4.47

No comments: