Up today, triggering my system is Shaw group (SGR). The headline reads: "Shaw in Contact with FEMA to Prepare for Hurricane Rapid Response". Being the primary beneficiary of the reconstruction of Louisiana's disaster areas may give SGR some upside potential, and thus it should be a good candiate for our account.
http://biz.yahoo.com/bw/050830/305779.html?.v=1
The trade today did not fill. Perhaps tomorrow. It would not hurt to wait for a "Fibonacci pull back", that is a retracement of 38.2% of the rally so far. BTW, we could reenter AMLN if there is so a retracement too..... Wait and see.
My Elliott wave analysis indicates that SGR may be in a double zigzag wave UP with a traget of $31 to $37. We'll see...
--------------
Update:
The trade did not fill yesterday, eventhough there were several occassions in which my bid fit the ask. This could only mean that the liquidity in this stock is too low, and I should stay out of it because volatility may only go down from here. Today, the combo price is much lower. I will keep looking for other opportunities.
No comments:
Post a Comment