Friday, September 08, 2006

Follow up to the last post

I'm in San Francisco right now for a conference and to hang out with my girlfriend. Before the flight out I set a stop-loss on my NGPS position. I wasn't feeling too confident about the recent maket moves on low volume so I set it at 41.30.

While on the plane the stock dropped on fairly big volume. Guess where it bottomed? Yup, at 41.25 and I was shaken out of my shares. NGPS then went on to have a big bullish reversal. Chalk another one up to "live and learn".

I should never have set my stop-loss so tight.

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