[Buying Quicksilver Corp. (KWK)/Day Order/Limit $31.50]
Dear Member:
I like Quicksilver Corp (KWK) at a limit of $31.50. It has bounced off a previous double bottom and has been channelling between about $30 and $38. This is a fairly agressive trade since my initial exit is fairly far away at $29.00 which means that I could suffer a larger than I like loss if the stock turns back down. The first upside target, however, is at $38 so I am looking at a reward to risk ratio of slightly better than 2.5:1.
I should also note that CAM has made a nice move and I am considering taking that profit today.
DISCLOSURE: At the time of publication, I have no position in KWK.
Sincerely,
Bill Kraft
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