I got filled on Centamin Egypt on 24th Feb at 50.57 - I revised my entry down, as the pullback was definitely more aggressive than I expected. So far it looks like a fairly safe entry point. Stop was also revised down to 42.57 - So Funds at Risk remain at 2%. The reason for the pullback was the half yearly report - Centamin got pretty nailed with FX stuff, but fundamentals haven't changed and they are still on course to open the first modern day Gold mine in Egypt in Q2 2009. Currently I'm up 0.2% on this stock (Oh yeh! The AtticMan is a trading genius!!:))
I'm getting ready to get involved with Autonomy Corp. Since I first started following them, they've been a little crazy - A massive gap up of 12% on 9th Feb, was closed the same day. Since then, they've been chopping between 1268 and 1151 (10%). I'll either place a buy limit at the low of the range (1151) or a buy stop at the high of the range (1268). Either way, I'm going to wait a while until it's clear which way this stock is trending in the short-term.
Micro Focus International has also been bloody volatile! Soon after I started following them their share price shot up 5.4% before dropping 17.7%!! The 50EMA seems to have halted the slide and they have since recovered 11.2%. This sort of volatility can play havoc with the nerves, but as a leveraged trader, I'll simply widen my stops and reduce my position size. The stock is currently trading between 8 and 21EMA and to be honest it looks like I missed the best entry point for this stock, (the consolidatiion around 270) so I'll wait for another period of consolidation before getting involved.
I'm off to do some more research before my little boy finishes his afternoon nap and insists on playing 'Mary has a Baby' on an untuned guitar! (to compound how bad that sounds, he plays a right-handed guitar left-handedly....) Later
