Tuesday, April 10, 2012

Initial spike trade - OCZ

OCZ came up on my scanner last week with a big volume and modest price spike. Part of the trade was a simple break of the high of the spike, but I also got into some at the low of the initial pullback, based on some reckoning on where it might dip to and how much I was willing to risk. I should state, which I did not in the chart notes, is that my calculated stop was just below the base created before the spike, around a 6.66 stop, about .10 risk, figuring a successful hod break would take it to test 7.