[Entering Position In Iamgold (IAG)]
Dear Member:
The unusual recent performance of the markets dictates extreme caution in entering directional plays. Iamgold (IAG), a stock I have traded in the past, is bouncing off a support and has a positive DMI. I like the stock at a limit of $8.45 or better on a day order to buy. If filled, I would keep a pretty tight leash in case I am wrong on the direction, and would place a stop at $8.05.
DISCLOSURE: At the time of publication, I have no position in IAG.
Sincerely,
Bill Kraft
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