Monday, April 7, 2008

Safety Stops for TSRA & PLXS...

I've placed two sell orders for TSRA and PLXS.

I bought into TSRA 100 @ 21.455 and it's trading at 21.99 / 22.05 (A.E.). I think it has a lot of potential upward momentum, but if it dips back down, I can use that to my advantage. I've set a trailing stop of 0.26 pts so its floor is 21.73. If it dips below that, I'll reevaluate, but probably buy back in a little lower, instead of taking the hit for the dip. I think we'll hold steady in the upper 21s, but any significant dip will trigger the stop.

Again, this is a stock I'm holding for news on the Amkor arbitration. I think the other pending lawsuits are too far off to make this a short term play, so we'll see what happens, though I'm debating switching it from a trailing stop to a regular stop...

PLXS didn't bounce like I had hoped; the downgrade to "neutral" really hurt it. They finished some proper financing as expected late Friday, but I'm not sure it'll have much of an impact. Either way, it closed at 26.01 / 25.91 (A.E.) after I bought 100 @ 26.00, so I've set a T/S of 0.31 points, but I'm not sure I'll want to see that trigger without a nice spike. I'm looking to exit this position pretty quickly one way or another and I'll probably take a slight loss on it.

No comments: