Ok, guys. Here’s my first post on SharePlanner, so I’m going to keep it simple.
In the wake of the Japan nuclear scare, I bought into URRE and UEC after they gapped-down. I was counting on this being a knee-jerk overreaction to nuclear power fears, and actually hoped I didn’t sign on too soon. However, I was quickly rewarded a day or two later as the gap filled quickly.
I’ve sold all the UEC, and actually bought more URRE with a buy-stop order at 2.30 that filled during today’s opening up-gap that quickly settled back down to the blah-levels of the previous day.
This 60 min chart shows that I’m looking for a break above 2.27, with a target around 2.81. The more I stare at this chart, the more I think it’s going to break down and kill my gains. I’m tempted to set a stop around 2.15, or the current 34 period Moving Average level (34 MA), but I’m afraid of a stop-sweep kicking me out before a big run up.
I’m going to watch it during the open tomorrow if I can. If I have to be away, I’ll probably set a stop and worry about it until I can get back. I’ll post new setups later.