$EA had a similar setup last December and the result was a relatively straight 50% drop. I am not at all claiming that we will see that kind of move again (but it is possible).
Entry: Buy Stop at 13.59 (I want to buy it on downward momentum. Right now there is a fight going on in the .60's, if the Bulls win I don't want to be short.)
Stop: 13.85
Target: 12.25
Quick duration trade. I like this weak chart with a failed b/o above the descending channel.
Entry was 11
Stop: HOD 1/7/13 = 11.13
Target: 10.50 and if it breaks below then I'll reevaluate.
I like the risk, reward, and momentum that this trade in BKS offers at this price level. I have a good stop level right above at 14 and a target of 12.50. It needs to break below last Friday's low of 13.19. I like the bounce today to get to sell it on a big green open. The daily chart MA's look really good with the stock trading below the 10,100, 200 and the...
I think this setup is very similar to what we saw in May before it went from 16.50 to 13.50. In May the general market made the same move but it wasn't nearly as big of a move and CHK sold off a couple of days before the market.
I will start a short position under 17 and if 16.50 breaks I will short heavily. My stop will be if it breaks the current short term...
The 25 level is an important one for X. I am short with a stop at 25. A close with strength above 25 will shift me from short to long.
I think it will have to test 25 a few times before breaking above. This could give good opportunities to trade it between 22-25.
