RIGL.
RIGL is holding very nicely in these troubled times. I expect broader markets to go sideways for a while now and that may remove any downward pressure on RIGL. RIGL seems to be retesting its 25 day Ema and Fridays action was very bullish considering the broader markets. I will take a stop entry on this above Fridays high and my stop below Fridays low. Target is just below previous resistance.
Entry 25.78 (Stop Entry)
Stop 24.74
First target 26.23
First target 26.23
Second target 28.98
We entered RIGL on Monday and same day our first target was hit.
Next day We moved our stop on rest of the position to the low of Monday i.e 25.55. Now we have a zero risk trade or what I call a free trade.
1/30/08 Today could be a volatile day with Fed decision pending so I have decided to move my stop 26.96 in case markets sell off and so do RIGL with them.
2 comments:
I have raised my stop to 25.96 now on rest of my position
WOW I actually traded on this advie and they were very helpful and accurate. Keep up the good word.
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