Continuing with my recent history of playing snapback rallies in beaten-down growth tech stocks, I went long SPLK inside 12631 at $42.48 with a stop-loss below $40.
I would only consider adding to the position on further strength.
Splunk has been a dud even compared to other beaten-down names, failing to muster much of a relief rally at all.
However, with price finding some initial support at September 2012 highs, seen below, I like the defined risk of the trade at $40.
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Yup
SGEN…that is another bouncy chart.
Top of the risk management afternoon to you Chess.
You too, OT. Let’s grind tickers
Funny chit there!!!!