BH...Im still playing around with trailing stop losses. Lately ive found my guts are the best measure. 10% to me is too much, but if it works for you then go for it. I think 10% would probably work great if a stock was roaring up like DOM did in 2007 but when SLR is still trading in a wide volatile channel, it simply doesnt work IMO. Until it proves to be in a roaring ascent, only then would I consider such a wide stop loss.
Another argument for a pullback (and im aware i may just be trying to convince myself here...hehe) is that the bollinger bands are completely shut. Also I too dont like the looks of the Stochastics and the RSI is above 80. They dont stay above 80 for long in general.
SLR Price at posting:
70.5¢ Sentiment: Buy Disclosure: Not Held
