[Getting Ready for Labor Day Weekend/Placing Stops, etc.]
Dear Member:
Labor Day, a major holiday weekend is fast approaching and many if not most of the major players are leaving town. The markets are showing some strength, but on well below average volume which is to be expected at this time of year. I wouldn't be surprised, however, to see some upward momentum continuing into the fall. I wanted to let you know that I will be taking a short vacation from tomorrow morning through next Wednesday. I won't be near a computer so there won't be a Weekend Summary this coming weekend. I did want to let you know the orders I will be placing today to attempt to protect my positions in my absence.
As you have probably noticed, almost all of the $10 and Under positions have been showing renewed strength. The recent play on Finisar (FNSR) has been doing particularly well. In order to try to keep a lot of the profit it has accumulated, I would place my stop at $3.85. If stopped out, that could result in a handy little 10% gain before commission in a short time.
I would like to give the positions some breathing room so here are my stops during my vacation:
CTCH at $0.71
DENN at $2.88
EMKR at $6.70
MSPD at $1.69
In case I don't send any more alerts before market close today, I want to wish you a wonderful Labor Day Weekend.
Bill
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