Looking at the chart for GSVC, I’d expect it to retest the support at $16. I placed a buy limit at $16.06. My stop point would be just under $14, with my target a retest of the near $20 all time high. So we’ll see if I get filled. Here’s the chart showing the 16 support:
UPDATE: I pulled the buy limit down to $15.75 for 1/31/2012. Just got filled at that price. Stop level is $13.25, target is to sell any pop from Facebook IPO news, the retest of $19.9x all time high if we get there. Here’s the current chart:
UPDATE: I just closed it out at $17.45 as I trailed up behind the late day price rise. I saw all the potential resistance around $17.50 at the left and didn’t want to wait out the retrace, so that’s +1.7 on the trade, or just about +0.85R on the trade.