I bought ACO at 29.96 and have a riskier stop than I'm used to (at 26.45) because I wanted to hold through the earnings release, given the postives of this company, but I did anticipate a drop. Do you consider 26.45 reasonably safe here? 26.62 is the low of the last month. (You've got me interested in relearning point & figure charting). Thanks.
This stock is an especially poor stock to set a stop loss for. I understand their purpose but ACO has such volatility that it can open down 50 cents and you may sell for $26 rather than $26.45 as you set it. Within an hour it may be up $1.50 and you are sitting there with a loss. Another no-no in this stock is to enter a market order at the open. You frequently see some one paying 75 cents over the next price in line. It is the nature of a small cap stock for which there are widely differing views of its future prospects. If you have confidence in this management's strategy for global growth in numerous business segments, simply buy and hold through the market movements until their strategy loses steam.
COLLEGE STUDENT INVESTOR - Nice short term forcast! Please keep up your posts.