every now & then the trading gods smile down upon you. i have yet to see the news but PCX was recently halted today and is trading down over 60% since opening. i was lucky enough to have a short position that i took when i made the last post on it the other day (exceeding my final target and hitting my upper-most resistance level). just one more reason to use a hit & run trading style: get in, take profits early and get out. i’m sure the news will be out soon but one more reason why i advise against holding stocks past my final target.
actually, bloomberg just reported that a bankruptcy filing announcement is imminent.
