[Buying Gardner Denver, Inc (GDI)/Day Order/Limit $32.70]
Dear Member:
Though I'm not convinced that the bearish move in the markets has completely run its' course, I am going to stick my toe in the water by placing an order to enter a small position in Gardner Denver, Inc. (GDI). My order is to buy GDI at a limit of $32.70 for the day.
The stock has bounced off a trend support and broken through a little price resistance. Money has appeared to be flowing into the issue recently and there has just been a DMI crossover. I am trying to enter a small position with the possibility of later adding to my position if the stock moves up. My initial exit if the stock turns down will be on a close below the uptrend (which, coincidentally, is the 200 day moving average).
DISCLOSURE: At the time of publication, I have no position in GDI.
Sincerely,
Bill Kraft
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