Monday, January 08, 2007

Update on Wi-Lan

Still holding the position in Wi-Lan ( that I bought last thursday.

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I found out that Wi-Lan reports quarterly results on Jan 11/07. So, that pretty much decides when I will exit my position. The question now is how to extract as much profit as possible before I exit my trade between now and Wed. close.
I'm setting my new stop loss to 5.44, and the worst case scenario is that Wi-Lan will show strong signs that it will hit my new stop loss, in which case I will sell before it hits my stop loss. Today's high was 5.89. The best case scenario will be a break above today's HoD, in which case my stop will be automatically moved to Monday's HoD. If WIN meanders somewhere between today's HoD and LoD, then it pretty much won't matter where I sell.

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