So far, CBK had the typical over-reaction spike shortly after the open, peaking at a high of 6.24 before falling back sharply. However, the stock is hanging in there so far and may or may not take out that level and move higher. As per my trading plan, any move over 6.24 will now be my stop (to be lowered if the stock were to fall from here). However, as CBK is a thinly traded stock, I prefer to use a manually sell order vs. a standing stop-loss order, which is likely to be run by the market makers when the see it sitting there. Also keep in mind that CBK is averaging about a 2 cent spread (between the bid and ask) so far today.
