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bought 7000 LZB at 10

Posted by timothysykes on Tue 8th of Dec, 2009 03:07:26 PM

I really didn’t want to make this trade as I have a ton of work to do finishing my new websites, but this one has been threatening to breakout all day in an ugly market…very low risk considering how much basing it has in the 9s….probable COT-like slow breakout over the next few days, especially if it can break the previous high of 10.20ish…breakout is no way guaranteed, I just like the risk-reward, potential upside of 50 cents-$1.50/share, risk of losing 20-30 cents/share if the breakout fails…roughly 4-5x upside compared to downside…speculative, not a true pump & dump

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