Market Curiosity: Exploring Markets And Systems

September 24, 2012

CRUS: Buy stop with limit. +39% (update 4, Sep 24)

Filed under: +26 to +50%, Long Stock — Tags: — Jeff Fitzmyers @ 6:00 pm

Buy stop about 28.42, limit of about 28.60. Definitely using a limit due to possible gap over the down trend line.
Stop loss about 26.70.
Possibly buy Sept 27 calls for about 5.20.

Daily:
+ Decent up volume the past 2 weeks.
+ Rising medium term RSI.
+ 15% of shares are short.

Weekly:
+ Recent 3 weeks could just be a test of the past February 2011 high.
– Midterm RSI pointing down.
– Recent consistant up volume, but not like 2010.
+ Not a super extended stock
– The possible correction might need some more time.

So, if the buy stop is triggered, price better rise quickly or it’s time to get out.

Update July 28: In at 28.42. Stop loss moved up to about 27.35.

Update July 30: Stock is up about 23% after hours. Will very likely sell half near the open.

Update July 31: Sold half for +27%. Stop loss on the other half at 30.30 ish.

Update August 23, 2012: Moving stop loss up to about 38.70.

Update Sep 1: About 15% of float is short! Opps! Why do people short stocks hitting new all time highs? Maybe because the CRUS insiders are selling a fair amount in August? But still, why not wait for momentum to flag?

Update September 7: Moving stop loss up to about 40.35.

Update September 24: Stopped out +51%. (27 + 51) / 2 = + +39% overall.

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