Sep 15

EXIT $ACHN

$ACHN is new territory for us. It went up hard and fast from our entry at 7.68. on 8/11. It topped out at 13.8 and now its back to the 11 range. We decided on 8/25 to conduct this using some swing trade techniques so we did not lose all our profits, again. On due analyses looking at our Guru John Boorman, we found a similar circumstance in $TASR . The Analysis showed that when a stock goes up so fast , it loses momentum and comes down just as fast. On 9/5 $ACHN appeared to be losing steam, so we set the trailing stop at 11.45 which was the close of the pivot low day on 8/28. Our experience has shown that when a stock breaks that level on force , like today , a 9 percent drop we have to take notice. The stock showed no recovery at the days end , and so for these reasons we will leave with a large win and save our emotional capital for another day.

ACHILLION

ACHILLION

 

 

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