[Placing Trailing Stop on Siliconware Precision (SPIL)]
Dear Member:
Siliconware Precision Industries (SPIL) has rocketed up nearly 4% since yesterday's close. I would like to preserve profit and at the same time try to keep making money if it can continue up. I have placed a trailing stop to sell contingent on the stock dropping 1% from it's new highs. As I place the stop, the stock is trading at $8.43 which means I would be automatically sold out if the stock dips to $8.35. As the stock goes higher, the stop follows. For example, if the stock went to $8.75 before I was stopped out, the trailing 1% stop would then take me out on a 1% dip from $8.75 or at $8.66.
DISCLOSURE: At the time of publication, I own shares of SPIL.
Sincerely,
Bill Kraft
|
