Sherlock, >>Bot some QLGC before the close<< One of the by-products of these board is to learn how to make better trades. Basically try to make the odds of a profit higher. I hope you don't mind me commenting about your trade. I wish we would see more debate about individual trades here.
You said, "Looks like it may want to bust thru the DMA." The fact is that it did not. Also, volume was below average. If it was above average I could possible see "bust" being used. Last night it closed at 28.50, today it closed at 28.52. The stock went nowhere today. As much as I dispise Max Pain, it does give some indication of market sentiment on a particular stock going into expiration week. Max pain is 27.50.
Going into a three day weekend, why would it have not been better to wait until Monday to make the trade? - maybe once it broke through it's 20ema. At best, you trade looks like it is based on "hope" more than anything.
Just my opinion. Sorry, I just don't see the risk/reward. I welcome anyone that may have a different outlook on this stock.
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