Scottrade has a great new tool! Trailing Triggers! USE THEM! I set a 10% trailing stop (aka trailing trigger) on every stock in my Scottrade account. This means that if you buy a stock and set a trailing stop at 10% of the stock price, the stock will sell automatically if the price drops 10% or more (you can set this at any amount you want) Now here is the best part..... say the stock goes up 40% your trigger "follows" it upward, so say the stock now drops 10% it will sell and you will still have a 30% gain.
Yes I know trailing stops are confusing, but take the time to read about them on the site.
I just bought the following last few weeks, and yes I have a 10% trailing stop on all of them!
take it for what it is worth:
COH
MOT
CLW
DNA
EMC
ET
WAG
ELBO
These are great companies! Always buy quality companies!!! Never buy a POS company, EVER!
I already bought some COH in 12/04 and it is up over 40% some ELBO in 12/04 and it is up over 65% and my CLW is already up about 8% in less than a week!
Don't ever just jump into anyones "stock tip" even if it comes from Mad Money.... be sure to do your own homework.