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PEIX First Price Target Hit for a 24% Gain

PEIX (Pacific Ethanol Inc) has now hit T1 for a 24.2% gain (from the official entry, 34.4% from where the setup was posted) in just 4 trading sessions. Consider booking partial or full profits and/or raising stops, if holding out for any of the additional targets. Previous (Monday's) and today's updated daily charts:

4 Comments

  1. Profile gravatar of sportofkings
    sportofkings March 4, 2016 10:45 am at 10:45 am

    Thanks Randy!

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    • Profile gravatar of davenchop
      davenchop March 4, 2016 11:12 am at 11:12 am

      peix hits randys T1 and abruptly turns south…. wow

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      • Profile gravatar of sportofkings
        sportofkings March 4, 2016 11:24 am at 11:24 am

        Randy is Good

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  2. Profile gravatar of rsotc
    rsotc March 4, 2016 11:52 am at 11:52 am

    @davenchop A good majority of the trade ideas reverse at or within pennies of the price targets, not all but a certainly a lot of them, especially if the charts indicate a pullback is likely as the stock approaches that level. Also keep in mind that the price target I set for longs is slightly below the actual resistance area where I’d expect the reversal to happen. I do that to avoid missing a fill by a penny or so, should the stock reverse just shy of resistance since too many orders are stacked up there (and the MM’s don’t like to give the masses what they want). On PEIX for example, that horizontal line in which T1 is set is at 4.96 vs. my T1 of 4.92. So far, PEIX stopped cold at 4.94 & immediately reversed.
    In the trading room earlier, you also mentioned CLF hitting T1 (2.99). The horizontal line (actual resistance) on my chart is at 3.04. CLF hit ran straight up to hit a high (so far) of 3.00 before pulling back. When swing trading, if the intraday charts confirm a decent pullback is likely, I’l often reverse the position from long to short, capturing the initial pullback & then recycle back in long.

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