Corvis, 30-minute Chart

Questions:

1) Why would you be paying attention to this stock on Friday, August 29?
2) Is the trend up or down? Would you be looking to get long or short this stock?
3) Where would you get long/short this stock on Friday, August 29?
4) Where would you put the initial protective stop?
5) When would you stop trading for the day?
6) Where would you exit the position?

Answers:

1) Because it was unusually active, and very volatile.
... (CORV became a top unusual suspect on 8/28.)
2) Up. You'd be looking long.
... (This was a bit tricky since trend flipped up intraday)
3) Long at 1.28 on a buy stop above the 11:30 bar.
... (Look at that gorgeous narrow range inside bar!)
4) Tighter: 1.25. Looser: 1.24.
... (when playing these penny stocks I find it helpful to think in terms of X 100)
5) Right after you enter the position or lunchtime, whichever comes first.
6) End of day. Could sell half, carry half, or just close it all at once.

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