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PCX spanked

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PCX spanked

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.

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2017-03-08T21:22:21+00:00Jul 9, 2012 3:49pm|Categories: Completed Trades - Long|Tags: |Comments Off on PCX spanked